Tor Olav Trøim-backed tanker player Bruton is moving to lock in early employment for its first LNG dual-fuel VLCCs while firming up financing for the newbuildings.

The Oslo-listed company has entered into a non-binding letter of intent with a leading global trading house for a charter party covering the vessels. The proposed deal would give Bruton exposure to the spot market while securing a premium linked to the ships’ fuel efficiency and environmental performance, enabled by their dual-fuel LNG setup.

The charter discussions come as Bruton continues to build out its VLCC platform. The company holds options for two additional LNG-ready VLCC newbuildings at New Times Shipbuilding in China, with deliveries pencilled in for 2029. Exercising the options would further expand a fleet focused on modern tonnage as charterers show growing preference for cleaner and more efficient crude carriers.

Alongside the commercial talks, Bruton said it has received a financing proposal covering 90% of the construction cost for its first two VLCCs, Mount Vision and Mount Horizon. The ships are scheduled for delivery in July 2026 and January 2027, respectively.

Bruton has so far paid 20% of total instalments on each vessel. The proposed funding package carries a 15-year tenor and, according to the company, would deliver an attractive cost structure and a highly competitive cash breakeven level.

Taken together, the charter discussions, funding proposal and yard options underline Bruton’s bid to establish itself as a new-generation VLCC owner geared towards a tightening regulatory landscape and a market increasingly focused on fuel efficiency, the company said in a stock exchange filing on Tuesday.