Ibaizabal Group Drives Its Expansion with an Order for Four New 18,500 Cubic Metre LNG Bunkering Vessels
The Basque shipping company strengthens its commitment to liquefied natural gas supply through a newbuilding programme that reinforces its position among Europe's leading LNG bunkering operators.
The Ibaizabal Group continues to expand its presence in the international liquefied natural gas (LNG) market with an order for four new LNG bunkering vessels, each with a capacity of 18,500 cubic metres. The investment reflects the Basque company's strong commitment to one of the fastest-growing segments of the maritime transport industry. The newbuilding programme will further strengthen the company's specialised fleet at a time of increasing demand for vessels dedicated to supplying cleaner marine fuels.
The new vessels will be deployed for LNG bunkering, an activity that is becoming increasingly strategic in the decarbonisation of international maritime transport. These vessels supply liquefied natural gas directly to other ships alongside or at anchorage, providing a lower-emission alternative to conventional marine fuels while helping shipowners comply with the environmental requirements established by the International Maritime Organization (IMO).
With this new contract, Ibaizabal is further advancing a strategy launched in recent years to become one of Europe's leading shipowners specialising in this market segment. In 2024, the company signed a long-term charter agreement with TotalEnergies for an 18,600 cubic metre LNG bunkering vessel to support the Marsa LNG project in Oman. It subsequently secured additional contracts for the construction of similar vessels to be deployed by Shell.
The growth of the LNG bunkering market is being driven by the increasing number of LNG-fuelled vessels entering service. Shipping companies operating container ships, ferries, cruise ships, tankers and bulk carriers are increasingly adopting LNG as a transitional fuel to reduce carbon dioxide, sulphur oxide and particulate emissions, creating strong demand for specialised bunkering vessels.
With a capacity of 18,500 cubic metres, these new vessels rank among the benchmark units in the international market. They are designed to carry out LNG bunkering operations for large merchant vessels while meeting the highest safety standards, incorporating advanced cryogenic cargo handling systems, digital operational control and high levels of automation.
The new order also provides further support for the global specialised shipbuilding industry. In recent years, major Asian shipyards, particularly in China and South Korea, have established themselves as global leaders in the construction of this type of vessel thanks to their expertise in cryogenic technologies and the development of LNG transport and bunkering ships.
Source: Europa Azul