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Petredec orders four ethane ships from CIMC Sinopacific

Photo: Petredec Petredec tanker at sea
Fortitude Shipping, a subsidiary Petredec, has placed an order of up to four ethane/ethylene-capable handysize vessels at Nantong CIMC Sinopacific Offshore & Engineering.

The new units, which will have a carrying capacity of 24,000 cu metres, reduce further the average age of Fortitude’s ethane/ethylene-capable fleet that is already the youngest and most fuel-efficient within the sector which will be fitted with an exhaust gas cleaning system and a shaft generator.

Giles Fearn, Petredec chief executive, commented: “Petredec is delighted to establish a relationship with CIMC Sinopacific Offshore & Engineering and to consolidate Fortitude’s leading market share by expanding its ethane/ethylene-capable fleet, which is well positioned to benefit from the favourable fundamental tailwinds of strong, visible export capacity expansion in the U.S. Gulf Coast and restricted fleet growth over the next five years.”

Petredec has a long, successful history of building high quality vessels in China and we are delighted that they have placed their trust in CIMC SOE. We look forward to working closely with Petredec that we are certain will become the industry benchmark in terms of quality and performance,” said Gao Wenbao, Chief Executive of CIMC SOE.

Fortitude operates a fleet of eleven handysize vessels, is expanding its fleet with the addition of two handysize 24,000 cu metre vessels for delivery in March and July 2026, and with the option to build a further two units.


TAGS: Shipyards Asia