Equinor ASA (EQNR – Free Report) , the Norwegian energy giant, has signed a long-term time charter agreement with Bergen Tankers to acquire two electric hybrid oil and chemical tankers. This partnership highlights Equinor’s commitment to maintaining sustainability and reducing maritime emissions.
The vessels, each with a 6,500 deadweight ton (dwt) capacity, will be constructed by Zhoushan Dashenzhou Shipbuilding in China. Designed to set new benchmarks for low emissions along the Norwegian coast, these tankers will join the NOR fleet, showcasing advanced technology and eco-friendly innovations.
The ships will be equipped with electric hybrid controllable pitch propeller propulsion systems, incorporating battery packages and shore power capabilities. Developed in collaboration with Marine Design and Consulting (MDC), the vessels’ design ensures optimal efficiency, reduced energy consumption and lower emissions. Notably, the power systems on these ships are adaptable to alternative fuels such as ammonia, methanol, biofuels and LNG, further enhancing their environmental credentials.
Bergen Tankers secured long-term financing for the project from Sparebanken Vest. Headquartered in Askoy near Bergen, the company specializes in transporting refined oil products, chemicals and LNG, with operations focused along the Norwegian coast, North Sea and parts of the Baltic region.
This initiative aligns with Equinor’s broader sustainability goals, reinforcing its leadership in driving innovation in low-carbon maritime solutions.
EQNR’s Zacks Rank & Key Picks
EQNR currently carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc (FTI – Free Report) , Oceaneering International, Inc. (OII – Free Report) and Nine Energy Service (NINE – Free Report) . While TechnipFMC and Oceaneering presently sport a Zacks Rank #1 (Strong Buy) each, Nine Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. It focuses on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.
Financial Market Newsflash
No financial news published today. Check back later.
