Titan LNG has contracted Fearnleys AS, a Norwegian shipbroker, to run the tender process for a newbuild LNG Bunker Barge. The technical and economic feasibility assessment has been finalized by the Titan LNG newbuilding team.
The Titan Hyperion will be the 3rd barge that the independent LNG bunker supplier Titan LNG will operate. This will result in increased security of the LNG supply in the ARA region.
Powered by LNG, the barge will carry 8000 cubic meters of LNG to service LNG fuelled ships and will be operational in 2021.
The barge measures 135 meters in length by 19 meters in width and will be among the larger inland waterway barges trading in the ARA region. The Titan Hyperion addresses the fast-growing market segment of larger ocean-going LNG fuelled vessels calling the Amsterdam-Rotterdam-Antwerp region.
Ronald van Selm, CTO Titan LNG: “In the design, we have incorporated four years of lessons learned from LNG bunkering, including the FlexFueler barges and the largest LNG bunkering transfers using small scale LNG carriers in the world. Our design will enable Titan LNG to efficiently, safely, and cost effectively deliver larger parcels of the cleanest marine fuel. The Titan Hyperion will be ideal for servicing large tankers, cruise, container and offshore vessels.”
The Titan Hyperion will mirror the efficient conventional bunkering supply chain and is the result of extensive interactions with customers that identified the need for more economic LNG bunkering solutions than the seagoing (bunker) ships in use today. On top of executing larger bunker operations the barge will also serve as the mother ship to fill the FlexFueler’s, thereby enabling higher utilization of all Titan LNG’s assets. Owners and charterers can rest assured that this low CAPEX and OPEX barge brings enduring competitiveness to LNG bunkering versus IFO 0,5% and MGO.
The name Hyperion is derived from Greek Mythology as he was one of the Titan’s. They were the offspring of Uranus (sky) and Gaia (earth) who brought down the old Gods, just as LNG will bring down the use of oil-based shipping fuels.