Italy’s Fratelli Cosulich orders LNG bunkering vessel at CIMC SOE

Italian shipping group Fratelli Cosulich has placed an order for its first LNG bunkering vessel at China’s Nantong CIMC Sinopacific Offshore & Engineering.

The family-owned firm said Monday the order has a price tag of about $45 million. LNG Prime reported on this order in late March.

The 5,300 dwt dual-fueled vessel will have the capacity to transport over 8,000 cbm of LNG and 500 cbm of MGO for bunkering, according to Fratelli Cosulich.

In addition, Finland’s Wartsila will supply the vessels cargo management system, it said.

Fratelli Cosulich will deploy the LNG bunkering vessel in the Mediterranean Sea while Fratelli Cosulich LNG, a unit of the firm, will manage the vessel.

The firms said it could get a grant of 4.5 million euros ($5.46 million) for the vessel from the European Union under the Connecting Europe Facility (CEF) programme.

Moreover, the project has received support from a pool of financial institutions composed of BPER Banca, Banca Popolare di Sondrio, Cassa Depositi e Prestiti, as well as the insurance coverage provided by SACE Simestwith “Garanzia Green”.

CIMC SOE should deliver the LNG bunkering vessel in the summer of 2023.

Source Image: Fratelli Cosulich