EMEA News
LNG Bunkering Investment Fund Formed
Greek shipping and technology interests are behind ProBunkers, an investment vehicle focused on liquified natural gas (LNG) bunkering launched with a $343 million pot aimed at building up a LNG bunkering fleet.
The Athens-based firm will have a shipping arm for the bunker ships and a commercial arm to facilitate a later move into trading, according to maritime news provider Lloyd's List.
The new ships will be owned by the company.
The company will focus its efforts on several of the main bunker markets including Singapore, Fujairah and Amsterdam-Rotterdam-Antwerp.
The project's first stage should close by the end of this year with operations starting sometime in 2022.
"I anticipate 2018 to be a landmark year for the expansion of LNG as a marine fuel into shipping," Alexander Prokopakis, its chief architect and executive, was quoted as saying.
Over the longer term, the company sees a 30-year transitional period for LNG as marine fuel.
Probunker is backed by Oceanking Technical & Trading and was launched in Athens during this week's Posidonia event.
