Marinakis' CCEC confirms tie-up with CMA CGM to break into LNG bunker vessel segment

The US-listed Greek owner disclosed on 12 June that the joint venture, in which each party holds a 50% stake, has signed a shipbuilding contract with China’s Nantong CIMC Sinopacific Offshore & Engineering Co (CIMC SOE) for the construction of a 20,000-m³ LNG bunkering vessel.

The contract is valued at nearly US$83M, with delivery scheduled for Q3 2028.

Riviera reported in March that the joint venture had signed a letter of intent (LOI) with the shipbuilder for up to two vessels of this size.

The vessel is expected to be employed under a 12-year time-charter agreement with a joint venture between CMA CGM and energy major TotalEnergies, commencing upon delivery. The two companies formed a 50-50 partnership last year to develop and operate an LNG bunkering platform at the Port of Rotterdam.

CCEC said the vessel will feature advanced emissions-reduction technologies combined with highly efficient dual-fuel power generation systems.

The project represents a natural extension of the company’s gas platform from transportation into marine fuel supply, according to CCEC chief executive Jerry Kalogiratos.

“Working alongside counterparties of the calibre of CMA CGM and TotalEnergies, we can help build the infrastructure that allows LNG to deliver a cleaner emissions profile, alongside security and diversity of supply,” he said.

CCEC’s operational fleet currently comprises 17 vessels, including 13 LNG carriers. The company is also pursuing a newbuilding programme that includes eight additional LNG carriers, as well as dual-fuel medium gas carriers and handy LCO₂/multi-gas carriers.

CMA CGM executive vice president for operations and assets Christine Cabau said that “a high-performance LNG bunkering supply chain is essential to ensuring the availability and reliability of fuels such as LNG, which represent the first step in the decarbonisation of our industry.”

The liner operator has placed multiple orders for LNG-fuelled vessels in recent years as part of its strategy to reduce emissions across its fleet.