Petredec Orders 2+2 VLGCs from Hyundai Heavy
- Business & Finance
Singapore-headquartered liquefied petroleum gas (LPG) trader Petredec has returned to South Korea’s Hyundai Heavy Industries (HHI) for two Panamax Very Large Gas Carriers (VLGCs), with an option for two more.
The value of the contract has not been disclosed.
The 78,700 cbm VLGCs are scheduled for delivery in the second and third quarter of 2017, and will bring the company’s fleet of owned VLGCs to 17.
Back in July, Petredec took delivery of the 84,000 cbm Saltram, the first in a series of 12 vessels the company had already ordered from HHI.
If the option for two additional vessels is exercised, today’s contract will bring the number of VLGCs to be built by HHI for Petredec to 15.
Petredec Chief Executive Giles Fearn, said: “Petredec is one of the leading suppliers of LPG globally. Having the flexibility within our own program to transit either the old or the new Panama Canal gives our trading teams huge flexibility, as well providing our customers across Asia with continued reliable supply.”
World Maritime News Staff