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Focus on Panama

Seaspan signs MoU with AES for LNG bunkering in Panama

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Canada-based Seaspan and energy company AES Corp have signed a Memorandum of Understanding (MoU) to collaborate on the development of the LNG Bunkering business.

In a significant development for the regional Liquefied Natural Gas (LNG) industry, AES and shipowner Seaspan partner to drive sustainable energy solutions in the maritime industry.  The collaboration is primarily aimed at offering LNG bunkering services to shipping vessels transiting the Panama Canal and exploring similar opportunities in regional markets.

AES is working on the expansion of its Costa Norte LNG terminal in Colon, Panama, which will include new LNG refuelling infrastructure on LNG carriers, through a new ship-loading facility that is scheduled to start operations in November 2023. Under the new MOU, the terminal will be able to supply LNG for refuelling, either directly for bunkering or regional distribution

The two companies said Seaspan will provide its 7,600-cbm LNG bunker vessels (LNGBVs) to the new terminal, which will allow them to offer LNG marine fuelling from the second half of 2024.

The facility will also be able to offer temporary storage and reloading using Costa Norte’s 180,000-cbm storage tank, which will allow different market operators to store their LNG temporarily and withdraw it on demand.

 “The collaboration with our shipowner partner and the innovations at our Costa Norte Terminal position us as leaders in driving sustainable, efficient and affordable solutions to meet the growing demands of the market,” said AES Panama president Miguel Bolinga.