We perform all our operations with high safety standards by utilizing modern double hull vessels. Further we ensure a safe, cost effective and flexible supply chain by using high quality time-chartered tonnage, contracts of affreightment and spot voyage chartering. NEOT is constantly looking for new, responsible ways to work and always maintains the flexibility to respond to market changes.
We have currently five time chartered vessels hired from Terntank Rederi A/S in Sweden. The purpose of operating time charter vessels is to secure the cargo flow to our terminals and customers located in the Nordic countries. Further NEOT offers these vessels to third parties whenever program gaps and market conditions provide opportunities.
LNG-technology helps NEOT continue its environmentally friendly, cost effective and flexible operations in the Baltic Sea area, where the new sulfur emission limits came into force at the beginning of 2015.
Terntank Rederi AS ordered four new LNG-driven 15,000 DWT product tankers. Two out of these four have been contracted to NEOT. The first vessel was delivered to NEOT in August 2016 and the second December 2016.
New LNG-vessels meet the future regulations already in 2016. The LNG-vessels emission of particles is reduced by more than 90%, NOx by 80% and CO2 by 35%. The newly built ships also reduce greenhouse gas emissions by 35 to 40 percent compared to conventional tankers.
LNG-powered vessels are an important step forward for the development of the Baltic Sea region. LNG is already widely distributed in the Baltic Sea region and its distribution development will be key issue in order to fully utilize the environmental benefits of the new vessels.
LNG-project is called Baltic SO2lution and its application was granted EU support in, therefore this project is co-financed by EU. More information can be found via Zero Vision Tool, which is the project’s reporting page.