An unnamed owner has chosen Svanehøj electric cargo pumps for four LR1 tankers on order in China
The four LR1 tankers are reported to be on order at Guangzhou Shipyard International for delivery in 2026 and 2027.
Svanehøj has not named the owner, but the profile of the order indicates it is likely to be Ocean Yield, which has four LR1 tankers on order at Guangzhou CSSC Longxue Shipbuilding for delivery 2026 and 2027.
Svanehøj has been chosen to supply 72 electrically driven pumps for the four sizeable ships. Each ship will be equipped with deep-well cargo pumps, slop pumps and ballast pumps, providing the owner with significant benefits regarding efficiency, operation and maintenance.
Svanehøj noted that in a study by Deltamarin, vessels equipped with electric cargo pumps save 11-17% fuel on cargo operations compared with vessels using hydraulic pumps and the better energy efficiency may contribute to a better AER result and help meet the continuously increasing demands of the EEDI.
Other benefits are longer service intervals, lower noise during offloading, and a future-proof pump system, prepared for the net-zero emissions target by 2050 and the digitalisation of shipping.
Another benefit is that the compact design of the Svanehøj deepwell centrifugal pump reduces the weight of the cargo pump system by up to 15 tonnes and the installation space required by up to 60 m2.
According to Svanehøj sales director, energy Lars Bo Kirkegaard the newbuilding activity in the tanker segment is expected to continue rising due to several factors.
“We are looking into a very optimistic market within the tanker segment and older vessels are much less efficient than newer ones. They consume more fuel, which means higher emissions and costs. In all ship sizes, the market opts more and more for environmentally responsible and efficient pump alternatives.”
In January 2024, Svanehøj became part of the Industrial Process business of ITT, a leader in flow focused on highly engineered pumps, valves and aftermarket services.
Speaking at the time, Svanehøj chief executive Søren Kringelholt Nielsen said, "I am proud ITT has recognised Svanehøj as an outstanding addition to its IP business. I am confident ITT is the perfect partner for us to accelerate the continued growth and development of Svanehøj."
It is speculated the LR1 tankers and cargo pumps are for the account of Ocean Yield, which was in the news for its successful placement in March 2024, of a new perpetual callable hybrid bond issue of US$75M, carrying a coupon of 5.35% per annum with quarterly interest payments. Arctic Securities, Danske Bank, Nordea and SEB acted as joint lead managers in connection with the placement of the new bond issue with BAHR acting as legal advisor to Ocean Yield.
Cargo handling, cargo pumps and financing are all subjects at the forthcoming International Chemical & Product Tanker Conference 23-24 April 2024.
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