First tanker powered by ethane joins Eastern Pacific
Singapore-based shipping company Eastern Pacific Shipping (EPS) has taken delivery of STL Yangtze, the first of the company’s six new very large ethane carriers (VLECs).
Ordered in 2020, the 98,000 cbm newbuilding was handed over to its owner by South Korean shipbuilder Hyundai Heavy Industries (HHI).
All six vessels feature dual-fuel ethane propulsion which will reduce greenhouse gas emissions when compared to conventional marine fuels.
On 15-year charters to China-based Zhejiang Satellite Petrochemical (STL), the environmentally friendly vessels will carry ethane between the US Gulf Coast to STL’s plant in Lianyungang, China.
“The delivery of STL Yangtze is a major milestone for EPS as it represents our commitment to maritime’s energy transition with our holistic alternative marine fuels programme to achieve the industry’s decarbonisation goals,” Eastern Pacific Shipping said.
EPS expanded its fleet to 20 million dwt under management by recently closing 50 asset deals across its three core segments of containerships, dry bulk, and tanker vessels.
The company has continued taking delivery of dual-fuel and energy-efficient newbuild vessels also this year.
Earlier this year, EPS decided to make a further contribution to the energy transition by banning coal shipments on its commercially managed bulkers.
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