EPS enters new sub-segment while remaining focused on sustainability

Nov 05 2020


Eastern Pacific Shipping (EPS) has won a bid to purchase, build, and operate four 98,000 cubic meter VLECs for China-based Zhejiang Satellite Petrochemical (STL).

The vessels will be carrying ethane from the US Gulf Coast to Shenzhen-listed STL’s plant in Lianyungang, China. All four VLECs will feature dual fuel ethane propulsion which will reduce greenhouse gas emissions when compared to conventional marine fuels.

 

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. 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.  

 



Related News

Marine biofuel testing set to begin at the Alfa Laval Test & Training Centre

(Nov 05 2020)

As the marine industry races to slash greenhouse gas emissions by 2050, the Alfa Laval Test & Training Centre is taking a key role.



Arq Fue will support Hafnia in meeting IMO 2020 targets

(Nov 05 2020)

Arq, the UK based energy technology company, and Oslo listed Hafnia, one of the world’s leading product tanker owners and operators, have agreed to work together to accredit and introduce Arq Fuel as a key blend component for marine fuels, as part of...



MAN Energy Solutions to lead Danish Consortium developing ammonia

(Oct 29 2020)

Innovation Fund Denmark supporting AEngine project that aims to deliver commercially viable, zero-carbon, two-stroke engine by 2024.



Two factors determine whether fuel cell engines become successful

(Oct 15 2020)

The ultimate goal is to achieve a full-scale engine of 10 MW, Odfjell tells ShippingWatch.



Fuel to speed “cube rule” not as good as thought

(Sep 17 2020)

A study by 3 academic researchers found that the well-known cube rule for fuel consumption to speed does not work unless you are near the design speed.



October 2020

Seafarer morale and safety - Neste and vessel performance - Maersk''s ZeroNorth