Caravel and Celsius join forces to expand LNG bunkering
The Caravel Group and Celsius Tankers have announced the creation of a joint venture to jointly own and operate a new fleet of LNG bunkering vessels.
As part of the project, the partners have placed a firm order for two 20,000 cbm LNG bunkering vessels. They will be built at China Merchants Industry Holdings and China Merchants Heavy Industry Jiangsu, with delivery scheduled for the third and fourth quarters of 2027.
The new vessels will be equipped with Type-C tanks, suitable for both LNG bunkering operations and small-scale LNG trading. The design also includes additional manifolds and is prepared for bio-LNG blending, enhancing flexibility and environmental performance.
Roles of the partners
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Celsius will lead the commercial strategy.
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Caravel will provide strategic capital and operational expertise.
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The two companies have been collaborating for over a decade through Fleet Management, a Caravel subsidiary.
“This initiative combines technical excellence, shipyard reliability, and commercial scale. Celsius and Caravel share the same vision of becoming long-term leaders in LNG bunkering,” said Jeppe Jensen, Founder and Chairman of Celsius Group.
Market context
In 2025, the LNG bunkering segment is experiencing rapid growth: around 25 new vessels have already been ordered or delivered. By the end of the decade, the global LNG bunkering fleet is expected to double, compared to the current total of about 60 vessels in operation.
