FureBear JV orders two more 'Vinga' tankers
Sweden's Furetank AB and Canada's Algoma Central Corporation have ordered two more Vinga-class product tankers through their 50:50 joint venture, FureBear. The latest contract brings the total number of Vinga intermediate product tankers under construction to ten, with the first vessels due for delivery in the first quarter of 2024.
The Vinga-spec tankers, developed jointly by Furetank and Sweden-based FKAB Marine Design for short-sea trades in Northern Europe, are amongst the most energy-efficient ships of their type in the global fleet. The Vinga vessels have undergone steady design improvements since the first tankers in the class were commissioned in 2018.
The ice-class 1A 17,999dwt vessels operate on LNG, LBG, or gasoil. They have a battery-hybrid setup and a range of features that reduce fuel and energy consumption, resulting in low emissions. They can connect to shore power supplies when available.
Lars Höglund, Furetank CEO, said: "We see the upcoming phasing out of older tonnage in the market far exceeding the amount of newbuildings under way. Since we launched the Vinga series, no other vessels have been introduced that exceed their environmental performance. This encourages us to expand the series, improving our customer service while continuously developing and refining the emission-saving technology on board."
Other factors are supporting the rapid expansion of FureBear’s operations, Höglund said. Growing demand for biofuels and renewable feedstocks in European trade is boosting demand for intermediate-size tankers designed for efficient cargo handling and tank preparation. Meanwhile, customers are becoming more environmentally conscious and placing greater importance on reducing the climate footprint of their entire supply chain, including transportation.
Algoma Central Corporation's president and CEO, Gregg Ruhl, commented: "The closer we get to the delivery of our first FureBear newbuild, the more confident we are that our JV with Furetank will yield superior long-term results. We see a need for more Vinga tankers to ensure that we can support customer demand into the coming years and even decades with a best-in-class environmentally friendly design that will stand the test of time."
The two latest tankers, which bring the total number of Vinga-class vessels to 19, will be built at China Merchants Jinling Shipyard in Yangzhou and are likely to be delivered in the second and third quarters of 2026. All ten FureBear ships will be entered into the Gothia Tanker Alliance and operated by Furetank out of Gothenburg.
