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Eastern Pacific ventures into ethane carrier with four new VLECs

Photo: Eastern Pacific Shipping EPS.jpg
Eastern Pacific Shipping (EPS) has ventured into a new sub-segment to purchase, build and operate very large ethane carriers (VLECs).

The ship management firm said it has secured 15-year time-charters from China’s Zhejiang Satellite Petroleum (STL) for four VLECs to carry ethane from the US Gulf Coast to STL’s plant in Lainyungang.

All four VLECs will feature dual-fuel ethane propulsion to reduce greenhouse as (GHG) emissions when compared to conventional marine fuels.

The ships will be built at South Korea’s Hyundai Heavy Industries and Samsung Heavy Industries with deliveries scheduled in the first half of 2022.

EPS ceo Cyril Ducau said: “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,” Ducau added.

At present, EPS oversees a diverse fleet comprising of container, chemical, dry bulk, gas, crude and product tanker, and car carrier.

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