European Commission greenlights NYK Line's entry into Avenir LNG

The European Commission has approved Stolt-Nielsen’s sale of a 50% stake in Avenir LNG to Japanese shipping firm Nippon Yusen Kabushiki Kaisha (NYK Line).

IMAGE: LNG bunker vessel, Avenir Achievement. Avenir LNG

The joint venture between Stolt-Nielsen and NYK Line will support Avenir LNG’s expansion into global markets outside the EU, the companies said earlier this year.

“The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area,” the Commission said.

Avenir LNG currently supplies LNG and mass-balanced liquefied biomethane (LBM) at ports across the Baltic and Adriatic regions, including in Germany, Sweden, Finland, Poland and Italy.

The company operates a fleet of five LNG bunkering vessels and offers ship-to-ship, ship-to-truck and ship-to-terminal deliveries.

In addition, it has ordered two 20,000-cbm LNG bunker carriers from Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering last year. The first vessel is due to be delivered this year and the second in 2027.

By Konica Bhatt

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