Finland-headed oil refiner and renewable products major, Neste Oyj has signed an agreement for time chartering two new lower-emission product tankers with Danish shippers Terntank Rederi A/S.
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The tankers are tailored to transport a wide variety of liquid cargoes including renewable raw materials, such as waste and residue oils and fats, to Neste’s refineries.
At the refineries, products such as renewable diesel (aka HVO) and sustainable aviation fuel (SAF) will be loaded for transport.
Together with our partners, we are scaling up our renewable and circular solutions production capacity. Our partnership with Terntank supports our commitment to sustainability, particularly our target of reducing emissions across our value chain. With these vessels, we continue to reduce the emissions and environmental impacts of transportation. We are delighted to partner with Terntank, said Lauri Helin, VP of Logistics and Operations, Oil Products at Neste.
Low-emission solutions for sea transportation
The tankers are designed with foldable suction sails and dual-fuel engines enabling the use of e-methanol as fuel, which is produced with Power-to-X (PtX) technology using captured carbon and renewable energy.
Their innovative design and onboard emission reduction technologies will further reduce Neste’s environmental impact and emissions of shipping.
These next-generation product tankers are forerunners when it comes to reaching the climate targets set by the International Maritime Organization (IMO).
These new tankers ordered by Terntank will each be able to carry altogether 15 000 tonnes of bulk chemicals. Designed by Kongsberg, they will be built by CMHI Jinling Shipyard in Yangzhou, China.
Both new tankers are ice-strengthened and equipped with Terntank’s Hybrid Solution electric power supply system, battery pack, and on-shore power connection.
The ships can operate on new low-emission fuels such as e-methanol to meet net-zero emission goals and are due for delivery during the second half of 2025 and the beginning of 2026.
It is great to have Neste back again as a time charter partner after 10 years. We are happy to be able to provide them with state-of-art product tankers and innovative technologies to minimize the environmental impact of shipping and work together towards carbon neutrality targets, said Tryggve Möller, Owner, Terntank.
