Hong Kong’s The Caravel Group and Denmark’s Celsius Tankers have announced a joint venture to co-own and operate a new fleet of LNG bunkering vessels. Under the agreement, Celsius will lead the commercial strategy through its LNG chartering relationships, while Caravel will provide strategic capital and operational expertise. They will feature dual-fuel propulsion, Type-C tanks suitable for both LNG bunkering and small-scale trading, as well as readiness for bio-LNG blending. Dr Harry Banga, Chairman and CEO of The Caravel Group, said:“These vessels are not only technologically advanced, they will also support global trade in a lower-carbon future. Celsius and The Caravel Group are fully aligned in our ambition to become long-term leaders in the LNG bunkering space.”Global demand for LNG bunkering is expected to increase significantly as the number of LNG-powered ships rises to more than 1,150 by 2028.