Stolt-Nielsen, NYK Line Form JV in Avenir LNG

Stolt-Nielsen Limited and Nippon Yusen Kabushiki Kaisha announced that, through Stolt-Nielsen’s subsidiary Stolt-Nielsen Gas Ltd., Stolt-Nielsen has entered into a share purchase agreement to sell 50% of Avenir LNG Limited to NYK Line. Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.

With this partnership, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture, supporting the global transition to LNG and bio-LNG for marine fuel and other industrial applications. Following a wave of dual-fuel LNG vessel orders in recent years, LNG is rapidly being adopted as a practical and scalable fuel that enables shipping to achieve emissions reductions. This new joint venture in Avenir LNG underscores the commitment of Stolt-Nielsen and NYK Line to sustainable energy solutions for the maritime industry.

“By entering into this joint venture, we are developing our long-standing partnership with NYK Line and supporting Avenir LNG’s position in small-scale LNG supply and bunkering. NYK’s experience in shipping and logistics, together with potential market opportunities arising from the continued expansion of LNG-fueled vessels, is expected to add value