Gunvor Revealed as Charterer of Exmar’s FSRU Barge

  • Business & Finance

Belgium-based owner and operator Exmar has executed a ten-year charter with Cyprus-registered commodity trader Gunvor for the provision of its Floating Storage and Regasification Unit (FSRU) barge and related services in Bangladesh.

The company announced in February 2018 that its FSRU barge has been transferred to Keppel Shipyard in Singapore, where it is undergoing site-specific modifications required by its charterer, whose identity remained undisclosed until now.

“The floating solution developed and operated by Exmar is going to perfectly serve Gunvor’s long-term strategy, and the group is very satisfied with its first strategic move in the FSRU space in cooperation with Exmar,” the company commented.

“The FSRU barge is expected to arrive in Bangladesh in the fourth quarter of this year and start operations after its full commissioning,” Exmar added.

Built by Wison Nantong shipyard, the FSRU barge was delivered to its owner in December 2017.

It features an LNG storage capacity of 25,000m³ and a re-gasification capacity of 600 MMSCFD. It is the first ever FSRU project undertaken by a Chinese company on EPC basis.

The FSRU has been fully paid by Exmar and the financing of the unit is under discussion, the Belgian company said.

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