NYK Line Takes 50% Stake in Avenir LNG from Stolt-Nielsen
Japanese shipping group NYK Line has established a joint ownership structure with Stolt-Nielsen following the purchase of a half share in bunker supplier Avenir LNG.
Japanese maritime major NYK Line has purchased a 50% equity stake in small-scale fuel supplier Avenir LNG from Stolt-Nielsen Gas Ltd, a wholly owned subsidiary of Stolt-Nielsen Ltd.
Prior to the agreement, Stolt-Nielsen Ltd held total ownership of Avenir LNG. Following the transfer of equity, the two shipping companies have instituted a joint ownership and operational framework to guide the business.
According to an official statement released by NYK Line on 1 September, the joint venture structure is designed to capitalize on emerging opportunities across the LNG and bio-LNG bunkering sectors.
The Japanese group noted that the collaborative platform will assist the wider commercial shipping sector in its shift toward lower-emission alternative bunker fuels.
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