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Exclusive: Fratelli Cosulich in discussions with international banks for second LNG bunker tanker order

‘Maybe there is an opportunity to deploy the second LNG bunker tanker in Singapore,” Timothy Cosulich, CEO and Board Member of Fratelli Cosulich, tells Singapore bunkering publication Manifold Times.

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Genoa-based international shipping, shipments and logistics company Fratelli Cosulich Group is in discussions with international banks for a second liquefied natural gas (LNG) bunker tanker order, learns Singapore bunkering publication Manifold Times.

Fratelli Cosulich on 10 May officially placed an order for the construction of its first LNG bunkering vessel; a 5,300 dwt newbuilding built at the CIMC SOE shipyard in China capable of transporting over 8,000 m3 of LNG and 500 m3 of MGO for bunkering.

The USD 45 million order from the shipyard comes with an option for another sistership which Fratelli Cosulich is keen to exercise, shares Timothy Cosulich, CEO and Board Member of Fratelli Cosulich.

“This is one of the biggest investments we have ever done. Being an Italian company we had many Italian banks keen on financing this deal [for the first order] and we were positively impressed by the key interest and financial support we received from these banks,” he says.

“Further, we managed to get a subsidy from the European Union for this investment which they consider to be important and strategic from an environmental point of view. We are heartened to know there are government institutions supporting our project.

“Now, the shipyard has offered us an option to order an additional LNG bunker tanker. We are in discussions with international banks to finance this [second] order.”

Fratelli Cosulich’s first LNG bunkering tanker will be deployed in the Mediterranean due to the commercial rationale that the region will be a good market for bunkering passenger vessels – which are increasingly adopting the use of LNG as a marine fuel.

“The order book for newbuildings indicates that 25-30% of vessels on order are now either dual-fuelled or LNG-ready so clearly there is a real interest in LNG. These orders are mostly containerships, large tankers, and cruise/passenger vessels so there is already a market,” he explains.

The location for the company’s second LNG bunkering tanker, however, is still undecided, according to Cosulich.

“We are evaluating different options for the second LNG bunkering tanker. We know there is demand in Northern Europe,” he reveals.

“On the other hand, we know the Maritime and Port Authority of Singapore has been issuing additional bunkering licences for LNG. With the growing number of LNG bunker suppliers, we also expect growing demand; maybe there is an opportunity to deploy the second LNG bunker tanker in Singapore.

“We are an Italian family business, but Singapore is clearly our second home. We have been here for more than 30 years since the 1980’s and we will be happy to increase our presence at the Republic.”

Cosulich says his company was fortunate to have accumulated experience in the handling of LNG since 15 years ago, when the firm took over the technical management of the FSRU Toscana situated off the coast of Tuscany.

As such, Fratelli Cosulich was able to utilise this knowhow into writing their own specifications for the recently ordered LNG bunkering vessel.

While acknowledging that there are short-term and long-term solutions available to help shipping achieve decarbonisation, Cosulich believes LNG is the first step in helping the maritime sector meet its sustainability goals.

“Some companies focus on investing in long-term solutions such as hydrogen, ammonia, methanol, batteries and I don’t think this is wrong, but these solutions are not available in the short-term,” he notes.

“We cannot wait until those solutions are available. We need to start doing something and the only available solution at scale right now, allowing for significant emissions reductions, is LNG.

“We know LNG itself is a transition fuel which might have a 20-year lifespan and if we consider bio LNG that life-span might be even longer. In the meantime, we can significantly reduce emissions in the short term with LNG – that’s why we decided to go for it.”

Moving forward, Cosulich encouraged players to take action in helping shipping achieve its decarbonisation goal.

“In shipping, most of all as an industry spend 5-10 years talking about decarbonisation and the problem is we specifically spend time talking instead of doing,” he states.

“So, I think it is important we as an industry get started doing rather than just talking about it at conferences.”

Related: Fratelli Cosulich orders USD 45 million LNG bunkering vessel for Mediterranean Sea ops

 

Photo credit: Fratelli Cosulich
Published: 21 May, 2021

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Alternative Fuels

Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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