EPS strengthens VLAC orderbook with two newbuilds in China

The Singapore-headquartered shipowner signed the shipbuilding contract on 5 January with CSSC’s Jiangnan Shipyard for two 90,000-m³ vessels.

The shipbuilder noted the vessel pair is designed for maximum cargo efficiency and minimal navigation resistance, meeting the size restrictions of the Panama Canal. The ships will feature LPG dual-fuel propulsion and a next-generation low-resistance hull form, offering a 20% reduction in CO2 emissions and a 99% reduction in SOx compared with conventional fuel systems.

EPS and Jiangnan Shipyard have a history of collaboration. In 2023, EPS ordered six 93,000-m³ vessels at the yard, followed in 2024 by six 150,000-m³ ultra-large ethane carriers.

EPS currently manages a fleet totalling 31M dwt across four core segments: container ships, dry bulk, gas, and tankers. Riviera recently reported a major order at China’s Hengli Heavy Industries, covering VLCCs, Suezmaxes, and 6,000-TEU container ships.

New orders for VLACs fell in 2025, reflecting the wider slowdown in newbuilding activity. According to Veson Nautical’s year-end review, after two years of high ordering activity, new LPG carrier contracts declined by 70% compared with 2024, with demand for VLGCs, VLACs, and VLECs particularly muted.