By converting offshore vessels into LNG fuel tankers, the new established company aims to become the world's first and largest LNG feeder and bunker operator.
CRYO Shipping specialises in regional short sea shipping of LNG. It is a fuel that there is plentiful worldwide, but where infrastructure is lacking. Later, the company will also look into the transport and supply of renewable cryogenic fuel, such as liquefied biogas (LBG) and liquid hydrogen (LH2).
The company aims to establish a fleet of flexible small-scale LNG tankers to be able to secure LNG supply to consumers regardless of their location. The ships will be able to perform both feeder and ship-to-ship (STS) bunkering operations in all types of waters and ports.
"We are working on conversion projects of platform supply vessels into LNG tankers, which should be in operation by first half 2018," said Nicholai Olsen, managing director and partner of CRYO Shipping. "We have designed the LNG system by using known technology, but combined in a new way. We have also developed a design for newbuildings with completely new and unique functionality that we aim to contract when our portfolio can meet the investment."