Dual-fuel product tankers ordered by new Furetank/Algoma joint venture

Four new ice-class 1A product tankers are to be built for a new Swedish/Canadian joint venture, FureBear, in China. The company, a 50:50 setup between Sweden’s Furetank and Canada’s largest Great Lakes bulk shipping operator, Algoma, has ordered the four 17,999dwt tankers at China Merchants Jinling Shipyard.

The dual-fuel ships will join eight sister vessels in the Vinga tanker class owned by Furetank and commercially operated by the Swedish company in the north European tanker pool, Gothia Tanker Alliance. They are due for delivery between 2023 and 2025.  

The Vinga-class tankers have already established a record for low fuel consumption and sound sustainable operation, according to the Swedish owner. The new ships will be capable of running on LNG/LBG or gasoil; they will be equipped with battery packs and other energy-saving features; and they will be designed to use shore power when available.

Lars Höglund, Furetank CEO, said: “We are pleased to welcome aboard Algoma and combine our companies’ symbols to create the FureBear joint venture. Furetank has deep roots in the shipping industry and a rich family history dating back to the 17th century, but our focus is aimed forward towards the goal of sustainable shipping. Together with Algoma’s similar narrative, I look forward to our collaboration. These vessels will be top-performers in the market by offering efficient cargo operations all while reducing our environmental footprint.”