Venturing into bunkering

Commodities giant Vitol has ventured into LNG bunkering. The company has done so via investments in a charter-in vessel and two newbuilds.

The charter-in vessel is also a newbuild. So essentially, the above details are just a down payment on a future business. While it is a start, three vessels in a developing sector doesn’t suggest major confidence. Vitol is a commodities giant - over $400B in revenue in 2023. If $1B is 0.25%, the investment is a small fraction of that amount.