CIMC wins contract to build two 24,000-m³ ethane/ethylene carriers

Petredec, one of the world’s largest LPG traders and shipowners, will build two 24,000-m³ ethane/ethylene carriers with an option for two further ships of the same type.

CIMC subsidiary Nantong CIMC SinoPacific Offshore & Engineering (SOE) will design and build these ethane carriers. The shipbuilder said the new design will mark a significant improvement over the 22,000-m³ carriers currently available in the market. 
The cargo capacity has been upgraded from the original 22,000 m³ and CIMC claims fuel consumption has been significantly reduced while maintaining the same design speed. These vessels will also comply with current international ship environmental regulations, meeting the Ship Energy Efficiency Design Index (EEDI) Phase III and IMO Tier III emissions requirements. Once these vessels are delivered, they will further reduce the average age of Petredec’s fleet and enhance both environmental and economic performance.

Petredec president Giles Fearn said, “Petredec is pleased to establish a partnership with CIMC SOE. We are expanding our ethane/ethylene fleet to consolidate Petredec’s market leadership position. The ethane/ethylene sector is well positioned to benefit from the favourable fundamental tailwinds of strong, visible export capacity expansion in the US and restricted fleet growth over the next five years."
Vice president of CIMC Enric and general manager of CIMC SOE, Gao Wenbao commented, “We are delighted Petredec has entrusted CIMC SOE with the design and construction of its latest series of 24,000-m³ ethane/ethylene carriers. We look forward to working closely with Petredec to deliver this project successfully, and we believe the quality and performance of these transport vessels will set industry benchmarks.”

CIMC SOE has secured a series of orders for various liquefied gas and clean energy vessels this year, including for 40,000-m³ midsize gas carrier vessels. With the latest order the total backlog order currently exceeds RMB8.0Bn (US$1.1Bn).