EXMAR takes delivery of LNG carrier SIMAISA for conversion into floating bunkering transhipment unit

Belgian LNG specialist EXMAR has taken delivery of the SIMAISA, a 146,000 m³ (roughly 5.16 million cubic feet) LNG carrier secured under an initial seven-year charter contract. Rather than entering conventional LNG trade, the vessel is headed for dry-dock, where modifications will transform it into a floating transhipment unit dedicated to the LNG bunkering market.

EXMAR takes delivery of SIMAISA under long-term charter

The delivery of SIMAISA marks a notable strategic move for EXMAR. Instead of putting a 146,000 m³ (roughly 5.16 million cubic feet) carrier to work in conventional LNG trade—where vessels haul gas between liquefaction terminals and import facilities—the company is redirecting this asset toward bunkering infrastructure. It’s a deliberate pivot, and the seven-year charter backing it signals serious long-term commitment.

EXMAR hasn’t disclosed who the charter counterpart is, describing them only as a “first-class” partner. That kind of language typically points to a creditworthy, established energy or shipping company, though no further details have been made public. The contract gives EXMAR the revenue certainty it needs to justify the conversion investment that follows.

EXMAR has taken delivery of the 146,000 m³ (roughly 5.16 million cubic feet) LNG carrier SIMAISA under a seven-year charter with an undisclosed counterpart.

For EXMAR, this delivery is a concrete entry point into the LNG bunkering infrastructure segment—a market that’s been growing steadily but still lacks the density of supply-side assets needed to serve a rapidly expanding fleet of LNG-fueled vessels.

Dry-dock modifications to convert SIMAISA into a floating transhipment unit

Shortly after delivery, SIMAISA heads into dry-dock. The stop isn’t routine maintenance—it’s a structural reconfiguration. Engineers will modify the vessel to function specifically as a floating transhipment unit (FTU), purpose-built for the LNG bunkering supply chain rather than point-to-point gas transport.

The FTU concept is designed with logistics efficiency in mind. Positioning a large-capacity storage vessel as an intermediate node lets operators avoid the cost and complexity of routing full-scale LNG carriers directly into bunkering operations. That separation of roles—large carrier to FTU, FTU to bunkering vessel—is where the economic logic lives.

EXMAR’s CEO, Carl-Antoine Saverys, put it plainly, describing the FTU as “a smart solution with which our client brings down the costs of the logistics relating to the LNG bunkering.” Cost reduction through smarter logistics architecture is central to how EXMAR is positioning this asset.

The modifications will make SIMAISA suitable for receiving large LNG parcels from trading carriers and dispensing those parcels to smaller, specialized bunkering vessels—which requires different operational configurations than a standard LNG carrier. That’s exactly why the dry-dock period is necessary before the vessel enters service.

How the floating transhipment unit will operate in the bunkering supply chain

Once converted and deployed, SIMAISA will sit at the middle of a three-tier logistics chain. Large LNG trading carriers — the kind that move gas across oceans—offload substantial parcels directly to the FTU, which acts as a floating buffer, holding inventory until it’s needed downstream.

At the next tier, specialized LNG bunkering vessels load from the FTU. These are smaller, purpose-built ships designed to navigate ports and anchorages and transfer LNG fuel directly to vessels that run on it. They’re the last mile of the bunkering chain, and reliable, accessible supply is what keeps them operating efficiently.

The FTU model solves a genuine logistical problem. Large LNG carriers aren’t well-suited to the frequent, smaller-volume transfers that bunkering operations require, and bunkering vessels lack the capacity to source directly from major terminals in meaningful quantities. The FTU bridges that gap—a dedicated intermediate node that makes the whole chain more fluid. As the number of LNG-fueled ships keeps growing, that kind of infrastructure becomes less optional.

LNG as a maritime fuel: Regulatory context and industry uptake

LNG has gained significant traction in the shipping sector as a lower-emission alternative to conventional heavy fuel oil. It produces substantially fewer sulfur oxides and particulate emissions and generates less carbon dioxide per unit of energy than traditional bunker fuels. For shipowners navigating tightening emissions regulations, it’s one of the more commercially mature options currently available.

Regulatory frameworks targeting sulfur emissions and greenhouse gases have pushed shipowners to evaluate cleaner fuel options for years, and LNG has emerged as a practical near-term choice for many new vessel orders.

Exmar isn’t new to this space. The company brings close to 50 years of LNG industry experience to this deployment, spanning vessel operations, floating infrastructure, and gas logistics. That depth matters when designing and operating novel infrastructure configurations like the FTU—the kind of work where institutional knowledge has real operational value.

Looking ahead, EXMAR has signaled plans to deploy additional FTU assets. Saverys stated the company looks forward to “deploying more of these assets to unlock the full potential of LNG as a fuel for the maritime industry.” That expansion ambition suggests the SIMAISA conversion is less a one-off project than the first unit in a broader fleet of bunkering infrastructure assets.

Fueling LNG-powered ships

EXMAR has taken delivery of the 146,000 m³ (roughly 5.16 million cubic feet) LNG carrier SIMAISA under a seven-year charter with an undisclosed counterpart. The vessel will enter dry-dock for conversion into a floating transhipment unit designed to serve the LNG bunkering market. Once operational, it’ll receive large LNG parcels from trading carriers and supply specialized bunkering vessels, which then fuel LNG-powered ships. The FTU model is intended to reduce bunkering logistics costs by creating a dedicated intermediate storage node. EXMAR has signaled plans to expand this model with additional assets as demand for LNG marine fuel continues to grow.

Kelly Lippke

Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.