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

EuroGreen Maritime SAS Announces Seven-Year Charter Agreement for Sustainable Shipping

Introduction

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.

The Agreement

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.

Technological Advancements

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.

Environmental Impact and Future Plans

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.

SDGs, Targets, and Indicators

1. SDG 13: Climate Action

   • Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.
   • Indicator: The article mentions that the vessels developed by EGM will result 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.

2. SDG 14: Life Below Water

   • Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution.
   • Indicator: The article mentions that the vessels developed by EGM will result 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. This reduction in emissions contributes to preventing marine pollution.

3. SDG 15: Life on Land

   • Target 15.5: Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity, and protect and prevent the extinction of threatened species.
   • Indicator: The article does not explicitly mention any indicators related to this target.

4. SDG 17: Partnerships for the Goals

   • Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.
   • Indicator: The article mentions the partnership between EuroGreen Maritime (EGM) and Equinor ASA, emphasizing a joint vision for a cleaner, more sustainable maritime industry.

Table: SDGs, Targets, and Indicators

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Source: chemanalyst.com

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