EuroGreen Maritime (EGM), a French shipping company focused on sustainable maritime solutions, has entered into a seven-year charter agreement, with options for five one-year extensions, for four hybrid battery/dual-fuel methanol vessels with the Norwegian energy company Equinor.
The charter contract was signed after EGM won the tender process with both technical and financial criteria initiated in December 2023.
This transaction, supported by Bermuda-based ship owner and charterer SFL Corporation, is said to represent ‘a significant advancement in green shipping’ and underscores a shared vision for a cleaner, more sustainable maritime industry.
Under the agreement, EGM will deliver four MR IMO II product tankers developed in collaboration with LMG Marin France to set new standards in eco-friendly shipping that rely on commercial-utilized technologies.
The vessels, scheduled for delivery starting in the first half of 2026 through 2027 and having a value of more than $250 million, will be constructed at Wuhu Shipyard in Weihai, China.
As informed, the ships will fly the French flag and be managed on behalf of EGM by V.Ships France under this time charter agreement with Equinor upon delivery.
Each tanker features scaled technology, including a dual-fuel methanol engine with a shaft generator complemented by a battery-hybrid power generation system , ensuring efficient and environmentally friendly operation and shore power .
In addition, the vessels are equipped with wind-assisted propulsion based on a pair of OceanWings wingsails systems developed by the French company Ayro, enhancing their green credentials. GHG, SOx, and NOx emissions are reduced by more than 45%, 95%, and 50%, respectively, with no particles compared to conventional MR designs exceeding IMO 2030 targets.
Equinor plans to deploy these technologically advanced vessels to refineries, processing plants, and terminal facilities. According to the companies, the initiative represents a significant step in reducing maritime operations’ environmental footprint, further aligning with EGM’s and Equinor’s sustainability goals.