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EGM secures 7-year charter for tanker newbuildings with sails

The French shipping company EuroGreen Maritime (EGM), which specialises in sustainable maritime solutions, has announced the conclusion of a seven-year charter contract for four ships with the Norwegian energy company Equinor.

In December 2023, EGM had already been awarded the contract in a tender process. EuroGreen Maritime will supply four MR-IMO-II product tankers, which were developed in collaboration with LMG Marin France. With their OceanWings sails, the ships will set new standards in environmentally friendly shipping.

The four vessels, worth a total of US$250m, will be equipped with a MAN B&W dual-fuel methanol engine with a shaft generator, supplemented by a battery hybrid power generation system. In addition to being designed for shore power in port, the vessels will be equipped with wind-assisted propulsion based on two OceanWings wing sail systems developed by French company Ayro. Greenhouse gas, SOx and NOx emissions are to be reduced by more than 45%, 95% and 50%, respectively, compared to conventional MR designs. The ships would, therefore, exceed the IMO targets for 2030.

The ships, which are scheduled for delivery between 2026 and 2027, will be built at the new Wuhu Shipyard facility in Weihai, China. Upon delivery, V.Ships France will take over the management of the newbuildings on behalf of EuroGreen Maritime under the time charter agreement with Equinor. The ships will sail under the French flag and the charter contract has a term of seven years with the option of a five-year extension.

In France, the government is also focusing on the development of advanced sailing technology for commercial shipping. The government recently confirmed its support for the technology segment, in which French companies are very active, by signing a “sailing pact” with the industry. Wind propulsion is seen as “a great opportunity for green reindustrialisation”.

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