LPG carrier orders continue

May 02 2014

This week’s brokers reports contain the news that Eastern Pacific had ordered three, plus two optional, Suezmaxes at Sungdong for 2016-2017 deliveries. The price per vessel was said to be $64.35 mill.

In addition, Atlas Maritime was said to have ordered two Aframaxes at Daehan for 2015 delivery. 
Navigator Holdings has confirmed that the company has exercised its option to build an additional three 35,000 cu m ethylene/ethane capable semi-refrigerated liquefied gas carriers, in addition to the one vessel of the same size already under construction. 
The three additional vessels will be built at Jiangnan Shipyard in China for $78.4 mill each.
The 35,000 cu m ethylene/ethane carriers are specifically designed in anticipation of large scale exports of ethane becoming available from surplus US shale gas production and the desire by international petrochemical companies to diversify their feedstock supplies with low cost US ethane, the company said. 
However, as the world’s largest semi-refrigerated LPG carriers, they will have the versatility to transport the full range of liquefied gases, such as propane and butane, as well as petrochemicals, including ethylene and ethane, plus ammonia. 
They will be delivered with dual fuel engines, reducing running costs through optimised propulsion systems and together with larger carrying capacities, will offer greater economies of scale, increasing competitiveness for the charterers, Navigator said.
Following the three additional vessels, Navigator has 13 vessels in its newbuilding programme, four of which are scheduled for delivery in late 2014, four in 2015 and five in 2016.
Following on from the holiday period, there was little to report on the timecharter market other than Indian interests fixing the 2002-built Aframax ‘Intisar’ for a short charter of 10-15 days at $16,500 per day. 
Oetker was said to have chartered the 2000-built MR ‘Lakatania’ for 12 months at $13,750 with an option for a further 12 months. 
In the S&P market, DHT was believed to be the buyer of Euronav’s 2008/2009-built VLCCs ‘Olympia’ and ‘Antarctica’ for $178 mill for the pair. 
Reportedly leaving the fleet was the 1996-built VLCC ‘Universal Peace’ sold on the basis as is Singapore for $475.6 per ldt to unknown breakers. The 1992-built Aframax ‘CE-Wave’ was said to have been sold for $473 per ldt to unknown breakers. 

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Sept 2018

SMM - scrubbers - coatings - drones - ethane powered tankers - MEG4 - contaminated fuel oil