ship.energy

Eastern Pacific Shipping inks 15-year time charter for VLEC quartet

Eastern Pacific Shipping (EPS) has won a bid to purchase, build, and operate four dual fuel ethane propulsion very large ethane carriers (VLEC) for China-based Zhejiang Satellite Petrochemical (STL).

The 98,000 cbm-capacity vessels will carry ethane from the US Gulf Coast to Shenzhen-listed STL’s plant in Lianyungang, China.

EPS CEO Cyril Ducau said: ‘We are extremely pleased to partner with STL and enter the ethane carrier segment. Both companies share a vision of being the green and technology-driven leaders in our respective industries. This made the negotiations and subsequent agreement an enjoyable and seamless process.’

Ducau continued: ‘For EPS, the addition of these four vessels complement our existing, and growing, mid and large gas carrier fleet. This deal also serves as an example of our commitment to using alternative marine fuels as transitional fuels towards decarbonisation and the preservation of the environment for future generations. This 15-year charter is a major milestone for us that will strengthen our foundation as we grow and diversify our fleet.’

The VLECs will be built at South Korea’s Hyundai Heavy Industries and Samsung Heavy Industries and are scheduled for delivery in the first half of 2022.

As ship.energy’s sister publication Bunkerspot previously reported, earlier this month, EPS announced the successful biofuel bunkering of its 47,377 DWT MR tanker M/T Pacific Beryl.

Rhys Berry

Rhys Berry