Shipowner Petredec announced they have exercised their option to build an additional three 93,000-m3 LPG carriers with dual-fuel LPG propulsion at China’s Jiangnan Shipyard
The news follows on from an announcement in early November 2020 for an initial order of three vessels.
Petredec said the new order cements its position as a pre-eminent builder of LPG/ethylene vessels at Jiangnan Shipyard with a total of 22 vessels, 12 of which have already been delivered. The order will increase Petredec’s very large gas carrier (VLGC) fleet to 27, further establishing the company’s position as the world’s second-largest VLGC owner and operator of the sector’s youngest fleet.
Group chief executive Giles Fearn said “We are delighted to have expanded our fleet with our good friends at Jiangnan Shipyard. Since our original order back in November 2020, the move towards reducing carbon emissions in shipping has gathered serious momentum. It is a subject we take very seriously at Petredec, which is evidenced by these next-generation ships on order.”
Petredec moves over 10M tonnes of LPG annually on a fleet of over 60 owned and chartered vessels. In addition to shipowning and trading, the company said it is developing wholesale, logistics and downstream businesses across Africa and the Indian Ocean.
The three LPG-fuelled ships are worth US$460M and expected to be delivered in June, August and September 2023.
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