Marinakis' Capital Gas to partner with CMA CGM, TotalEnergies on LNG bunker vessel newbuilds

Shipbroking sources noted the three partners are looking to place an order for LNG bunker vessels in China, though details on the number of ships and the chosen shipyard have yet to emerge.

The formation of joint ventures in the LNG bunker vessel market has become increasingly common in recent months, as established shipping players seek collaborations to support market growth. Despite ongoing debates over the alternative fuel of the future, LNG remains central to the energy transition, with Greek stakeholders already urging regulatory bodies to further highlight its importance.

All three companies are firm supporters of the LNG market. Capital Gas is a shipmanagement service provider, currently operating a fleet of 18 modern LNG carriers, including vessels under construction, according to its website.

CMA CGM has placed multiple orders for LNG-powered vessels and recently entered a 50-50 joint venture with TotalEnergies to develop and operate an LNG bunkering platform at the Port of Rotterdam.

The planned joint venture aims to deploy, by the end of 2028, a 20,000-m³ LNG bunker vessel to supply fuel to CMA CGM ships and other carriers operating in the area.

Notably, TotalEnergies has also been tied to charters for two 18,600-m³ vessels that Spanish shipowner Ibaizabal has ordered at Hudong-Zhonghua Shipbuilding in China.

Growing momentum in LNG bunkering

The LNG bunker vessel sector has seen heightened interest in newbuilding investments over the past few months.

Among recent deals, Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering secured contracts for up to six vessels – four for GSX Energy and two for Purus.

Celsius Tankers and The Caravel Group also established a joint venture, placing a two-vessel order at China Merchants Industry Holdings and China Merchants Heavy Industry Jiangsu.

Other players reportedly contracting vessels this year include Ibaizabal, H-Line, Evalend Shipping, Somtrans, Shanghai International Port Group, and China Bunker.

Analysts attribute this surge to anticipated growth in the LNG dual-fuel fleet. Observers note that over 1,150 LNG dual-fuel vessels are expected to be in operation by 2028, with LNG bunkering demand projected to surpass 50M tonnes annually by 2045. This underscores the urgent need for modern, compliant bunkering infrastructure.