Second VLEC newbuild joins MISC
MISC Berhad, a Malaysia-based provider of energy-related maritime solutions and services, has taken delivery of Seri Erlang, its second very large ethane carrier (VLEC) at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea.
The 98,000 cbm newbuild is the second of the six VLECs acquired by MISC in July 2020. With this purchase, the company entered the global ethane market.
All six units are purpose-built for long-term charter to Zhejiang Satellite Petrochemical Co. Ltd.
Seri Erlang will join its sister vessel, Seri Everest, to transport ethane from the U.S. to China to support STL’s ethane cracker facility in China. Both VLECs are managed by MISC’s ship management arm, Eaglestar Shipmanagement Gas (S) Pte. Ltd. The first newbuild was handed over to MISC in late October 2020.
“We look forward to the delivery of the remaining four VLECs as we progress into 2021. Commencing the year on strong tailwinds, we remain positive for favourable developments in the industry and more opportunities in Asia, which has now become a vital demand centre for the ethane market,” Yee Yang Chien, President and Group Chief Executive Officer of MISC, commented.
Seri Erlang is equipped with a reliquefaction unit and a high-pressure ethane fuel supply system. The newbuild is powered by a MAN B&W 7G60ME-C9.5-GIE Gas Injection Ethane engine, complemented with the Pump Vaporiser Unit (PVU), making it one of the very few vessels in the world with ethane burning capability.
Built with a cargo containment system for dual cargo loading, Seri Erlang is also delivered with LNG Ready notation by ABS where the VLEC can be upgraded to trade liquefied natural gas (LNG) cargoes in the future.
Seri Erlang and Seri Everest are expected to be joined by their four sister ships in the first half of this year. Upon delivery of all the VLECs, MISC said it would become the “largest transporter of ethane in the world”.