EuroGreen Maritime Secures 7 Years Charter with Equinor for Advanced Hybrid Tankers

EuroGreen Maritime SAS (EGM), a pioneering French shipping firm leading the charge in sustainable maritime solutions, announced on 8 April 2024 that its commitment to environmental excellence through a seven-year charter agreement for four vessels with Norwegian energy company Equinor ASA (NYSE: EQNR). Following a competitive tender process initiated in December 2023, EGM secured the contract, marking a substantial leap forward in green shipping and emphasizing a joint vision for a cleaner, more sustainable maritime industry.

In this groundbreaking agreement, EGM will supply four cutting-edge MR IMO II Product Tankers, developed in collaboration with LMG Marin France to establish new benchmarks in eco-friendly shipping. These vessels, slated for delivery between the first half of 2026 and 2027, represent a value exceeding US$250 million at delivery and will be constructed at Wuhu Shipyard Co., Ltd.'s state-of-the-art facility in Weihai, China. Upon delivery, these ships will be managed on behalf of EGM by V.Ships France under the time charter agreement with Equinor.

Each tanker boasts advanced technology, including a MAN B&W dual-fuel methanol engine with a shaft generator, complemented by a battery-hybrid power generation system, ensuring efficient and environmentally friendly operation, including cold ironing shore power capabilities. Additionally, the vessels are outfitted with wind assistance propulsion via a pair of OceanWings® wingsails systems developed by French company AYRO, further enhancing their green credentials. This integrated approach results in reductions of more than 45% in GHG emissions, 95% in SOx emissions, and 50% in NOx emissions compared to conventional MR designs, surpassing IMO 2030 targets and emitting no particles.

Vessel Specifications and Operations:

•    Type of Vessel: MR IMO II chemical tankers, outfitted with 18 tanks and 12 segregations, incorporating MarineLINE® coating to enhance cargo operations efficiency.

•     Eco Propulsion: Powered by a dual-fuel methanol engine with a shaft generator.

•  Wind Assistance System: Integrates cutting-edge OceanWings® technology by AYRO to substantially decrease fuel consumption and emissions.

•     Battery Pack: Integration of a large battery pack to enhance power management.

•     Shore Power Connection: Enables emission reduction during port operations.

•     Flag and Management: The four tankers will proudly bear the French flag and be managed by esteemed ship manager V.Ships France, based in Nantes.

Equinor ASA intends to utilize these technologically advanced vessels for product trading activities. This initiative marks a significant stride in reducing the environmental footprint of maritime operations, aligning closely with the sustainability goals of both EGM and Equinor.

EuroGreen Maritime, a forward-thinking maritime firm headquartered in France, is devoted to spearheading the shift towards sustainable maritime practices. By fostering innovation and partnerships, EGM pledges to diminish the ecological footprint of shipping activities, advocating for cleaner seas to safeguard the welfare of forthcoming generations.