Stolt-Nielsen Limited has announced the formation of a strategic joint venture with Nippon Yusen Kabushiki Kaisha (NYK Line) in Avenir LNG, strengthening collaboration in the small-scale LNG and LNG bunkering sector.
The agreement will see Stolt-Nielsen, through its subsidiary Stolt-Nielsen Gas Ltd., sell a 50 percent stake in Avenir LNG to NYK Line. The transaction is expected to be completed in mid-2026, subject to customary approvals, including regulatory clearance.
Avenir LNG, founded in 2017, has grown into a major player in the liquefied natural gas bunkering market, operating a global fleet of LNG bunker vessels and providing small-scale LNG supply solutions.
Through the new partnership, the two companies aim to expand opportunities in LNG and bio-LNG as marine fuels, supporting the shipping industry’s transition toward lower-emission energy sources.
“By entering into this joint venture, we are developing our long-standing partnership with NYK Line and supporting Avenir LNG’s position in small-scale LNG supply and bunkering,” said Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited.
“NYK’s experience in shipping and logistics, together with potential market opportunities arising from the continued expansion of LNG-fueled vessels, is expected to add value to Avenir LNG, its customers, and our shareholders,” he added.
The move comes as LNG continues to gain traction as a practical alternative marine fuel. In recent years, the industry has seen a significant number of orders for dual-fuel LNG vessels as shipping companies seek solutions to reduce emissions while maintaining operational flexibility.
Hironobu Watanabe, Chief Executive of the Energy Division at NYK Line, said the partnership builds on an existing relationship between the two companies.
“NYK has long built a strong relationship with Stolt-Nielsen in the chemical tanker business. With this foundation of trust and proven partnership, we are very pleased to establish a new joint venture through Avenir LNG,” said Watanabe.
“As the maritime industry accelerates its efforts toward decarbonisation, LNG and bio-LNG fuel has become increasingly essential in supporting a sustainable energy transition,” he added.
Jonathan Quinn, Managing Director of Avenir LNG, said the partnership brings together two experienced shipping groups with complementary capabilities.
“This joint venture brings together two highly respected shipping and logistics groups with complementary strengths and a shared long-term vision for LNG as a marine fuel,” said Quinn.
“NYK Line’s global reach and operational expertise will enhance our ability to develop the business, accelerate LNG bunkering solutions and support our customers’ decarbonisation strategies as the market continues to mature.”
