LNG

Accelleron Industries AG, a market leader in high-powered turbochargers used in LNG-fuelled ships, has been successfully spun-off from ASEA Brown Boveri (ABB), the Swiss-Swedish power technology group.

Accelleron’s shares are now trading on the SIX Swiss Exchange in Zurich under the ticker symbol “ACLN”.

The stock was first priced at 24.75 Swiss francs ($25.50) per share.

The listing follows the approval by ABB shareholders for the spin-off of Baden, Switzerland headquartered Accelleron at ABB’s extraordinary general shareholder meeting on September 7.

“As an independent business, Accelleron will now focus on implementing its own, independent growth strategy with an attractive cash generation profile,” said a statement.

“This will build upon Accelleron’s position as a market leader in heavy-duty turbocharging for the marine and energy industries,” it added.

The cruise liner “AIDAnova” was the first in its class to be operated on purely LNG fuel and uses Accelleron’s TPL-C turbochargers.

Legacy

“I am excited about the opportunities ahead, building on our 100-year legacy with ABB and our position as the market leader in high-power turbocharging,” said Oliver Riemenschneider, Chairman of Accelleron's Board.

“We have an impressive growth strategy driven by our leading technology and services offering, coupled with our commitment to research and development,” added Riemenschneider.

“I am confident that we are well positioned to take advantage of global megatrends and deliver compelling results for our stakeholders,” he stated.

The statement added that “sustainability” was at the center of Accelleron’s business as the company is a pioneer in reducing fuel consumption and improving the emissions profiles for customers.

“Accelleron is well placed to capitalize on the opportunities presented by renewable energy and sustainable transportation, with its best-in-class product portfolio, its leading R&D capabilities and its acknowledged innovation,” added company.

The largest cruise liner ever built for Carnival Cruise Corp. of the US, the LNG-powered liner “Mardi Gras”, has begun a series of sea trials from the Finnish Meyer Turku shipyard ahead of moving to its base in Florida to begin operations in February 2021 as the cruise industry continues to boost future demand for LNG maritime fuel.

Jan 17 (LNGJ) - Dutch shipping line Anthony Veder said its small-scale LNG carrier, the 7,500 cubic metres capacity “Coral Methane”, has successfully carried out its first liquefied natural gas bunkering operation on the world’s first LNG-powered cruise ship at Santa Cruz de Tenerife in the Spanish Canary Islands. The “Coral Methane” fueled the “AIDAnova”, the newest ship from AIDA Cruises, which made history as the cruise industry’s first ship to be powered at sea and in port by LNG. “We believe LNG is today’s most sustainable marine fuel,” said Klaas Kerssemakers, Chief Operating Officer of Anthony Veder. “The delivery of ‘Coral Methane’ as an LNG bunker vessel, in partnership with Shell, underlines our dedication to LNG and marks the next step in our contribution to a sustainable supply chain,” added Kerssemakers.