Brokers: Petredec to Expand Fleet with Two More VLGCs

LPG specialist Petredec has reportedly exercised the option for the construction of two additional very large gas carriers (VLGCs) at China’s Jiangnan Shipyard.

The order for two 84,000 cbm LPG carriers was signed only months after the company agreed the contract for the initial two units with the shipbuilder, according to data provided by VesselsValue.

World Maritime News contracted the company for confirmation and more details on the order.

Petredec unveiled its fleet expansion plans in June 2017, when it signed a deal for the construction of two 84,000 cbm LPG carriers.

The company earlier said that the vessels will be built to Petredec’s specification, “improving speed and consumption, making these vessels some of the most economical VLGC’s in the global fleet whilst also complying with all the latest environmental legislation including NOx Tier III, new IGC code and with USCG approved Ballast Water Treatment System.”

The first two vessels are to be delivered during the second and third quarter of 2019, while the exercised options are set for delivery later the same year, increasing Petredec’s owned fleet of VLGCs to 21.

Although the price tag for the gas carriers was not revealed, VesselsValue data shows that each ship has a market value of around USD 62 million.

World Maritime News Staff