JP Morgan Orders 40 LNG-Fueled Barges at Damen Concordia

Post Date: 08/11/2020


JP Morgan has placed an order for 40 self-propelled LNG-fueled tanker barges for charter to Shell.

The order was placed Concordia Damen, the inland waterway specialist of Netherlands-based Damen Shipyards Group.

The 110-meter dual-fuel barges will have LNG propulsion and extreme shallow draught capabilities (2800 tons on 3.25-meter draught) in order to maximize cargo-carrying capacity. The so-called “Parsifal” tankers will be used to transport mineral oils between Antwerp, Amsterdam, Rotterdam, and the Rhine network.

Concordia Damen will begin construction of the barges in December 2020. Delivery of the first vessel will be in November 2021, after which it will deliver one vessel each month, completing the order by December 2024.

The order was placed by institutional investors advised by J.P. Morgan Asset Management. The barges will be chartered by Shell and operated by the VT Group/Marlow.

“We are very grateful to have received this order and are looking forward to beginning the work, said Chris Kornet CEO Concordia Damen. “This is yet again a validation of our efforts towards greater levels of sustainability in the inland shipping sector.”