The first project for the joint venture, United Ethane Carriers (UEC), will be to manage five ethane-fuelled 85,000 cu m VLECs, which are to be employed on long term time charter to an undisclosed third party. The vessels are to be built to the Ecostar 85K design.
UEC will be focused marketing, branding and commercial management of ethane carriers internationally.
“We found that our strengths complement each other very well, particularly in this highly specialised market. UEC provides expertise for our customers’ benefit,” said Alfred Hartmann, chairman of the supervisory board of Hartmann.
Hartmann is to bareboat charter for 15 years three 36,000 cu m liquid ethane gas carriers being built at Sinopacific Shipbuilding and due for delivery in 2016.
Jaccar Holdings owns a 23.5% stake in Sinopacific which it is looking to sell.