Borealis and IINO Lines sign second time charter contract for VLCG

Borealis and IINO Lines sign second time charter contract for VLCG

World’s first Very Large Gas Carrier (VLGC) of Ice Class IB is equipped to reduce fuel consumption and emissions

  • By ICN Bureau | June 07, 2024

Borealis, one of the world’s leading providers of advanced and sustainable polyolefins solutions and a European front-runner in polyolefins recycling, and IINO Lines, a global leader in maritime transportation headquartered in Japan, announce the long-term charter of a very large gas carrier (VLGC). This Ice Class IB vessel will be delivered in the first quarter of 2027.

With a cargo tank capacity of 93,000 m3, the vessel will transport raw materials to Borealis' petrochemical plant in Porvoo, Finland, and will contribute to the stable operations of the plant as the world's only ice-strengthened VLGC of Ice Class IB.

The Ice Class IB certification is awarded to vessels capable of navigating in light ice conditions with the support of icebreakers, adhering to the Finnish-Swedish Ice Class Rules. These rules encompass the specific requirements for vessels navigating the Baltic Sea during the winter season.

“Maximizing opportunities to enhance our independence and flexibility in transporting cost-competitive light feedstock from overseas to our European base chemicals operations is paramount for our competitiveness to provide sustainable base chemicals and polyolefins solutions. The newly signed charter affords us not only competitive flexibility but also aids in reducing the environmental footprint of our transportation operations. This aligns with our strategic Energy & Climate ambitions, demonstrating our commitment to reinventing essentials for sustainable living”, says Thomas Van De Velde, Borealis Senior Vice President Base Chemicals and Energy.

“We IINO Lines, are profoundly proud of this second long-term charter to provide safe and flexible transportation in response to Borealis' new strategy of raw material procurement. Our various experience and know-how in operating LPG Carrier since 1960 will not only enable more effective and environmentally sustainable transportation, but also stable plant operation regardless season. We are looking forward to seeing her crossing ice sea to safely deliver LPG to Porvoo.” says Ryuichi Osonoe, IINO Lines Senior Managing Executive Officer, Management of Gas Carrier.

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