Singapore takes delivery of 'first membrane' LNG bunker barge

This week, the yard delivered Brassavola, a new LNG bunker vessel destined for refuelling operations for a growing number of LNG-powered vessels stopping in Singapore’s busy port. Dubbed ‘Singapore’s first membrane LNG bunker vessel’, the 117-m Brassavola was delivered to owner Indah Singa Maritime, a  subsidiary of Japan’s Mitsui OSK Lines. 

Following delivery, Brassavola will be chartered by Pavilion Energy to supply LNG in the Port of Singapore. The vessel is expected to commence operations in February 2024. 

Brassavola features a proprietary design by Seatrium subsidiary LMG Marin and incorporates superior loading and a bunkering rate of up to 2,000 m³ per hour along with mass flow metering and online gas chromatograph systems which will allow for faster bunkering turnover and improved operational efficiency, according to the shipbuilders. 

"Two GTT Mark III Flex membrane tanks will help lower internal pressure, temperature and boil-off rate for greater tank durability, safer fuel transfer and reduced cargo loss through evaporation. New reliquefaction technology enables more efficient boil-off gas management, which reduces carbon emissions," Seatrium said.

In addition to the delivery of the bunker vessel, Seatrium said its subsidiary Seatrium Financial Services has secured a S$400M (US$299M) loan from United Overseas Bank (UOB).

The Green Revolving Loan Facility is a sustainability-linked loan that will be used to help Seatrium expand its footprint in the offshore renewables sector, financing projects that will aid the company in meeting its environmental, social and governance (ESG) targets. 

The shipyard group has set a target that 40% of its orderbook should be made up of renewable energy projects and less carbon-intensive vessels by 2030.

In 2023, Seatrium secured more than S$2Bn (US$1.5Bn) in sustainability-linked loans and green financing including a S$500M (US$373M) committed revolving credit loan facility arranged by DBS Bank, HSBC and Standard Chartered Bank. 

Seatrium chief financial officer Adrian Teng said the new loan will help the scale of the company’s business ambitions in maritime and offshore renewables.

“Successful partnerships with industry players and financial institutions are critical in achieving our shared commitment towards maritime decarbonisation. UOB’s strong support for our green financing efforts underscores its commitment towards sustainable development, a key step towards driving positive change in the clean energy transition,” he said.