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

“All tanker owners considering LNG for newbuilding” – DNV GL

(Mar 18 2021)

Catrine Vetereng, global director for tankers with DNV GL, said, “all tanker owners considering new building today are considering LNG fuel,” in a talk about how the tanker market is adapting to future expectations.



ABS publishes guidance on Methanol as Marine Fuel

(Mar 11 2021)

ABS guidance designed to support owners, operators, shipbuilders and original equipment manufacturers.



Review: LNG fuelled crude / chemical tankers

(Jan 14 2021)

There are developments with LNG fuelled chemical / crude tankers happening around a number of ‘focal points’ – Shell, Swedish owners, Sovcomflot and shuttle tankers.



Industry leaders join forces to develop a standard design for a Methanol-powered product tanker

(Dec 17 2020)

A coalition of some of the leading names in sustainable shipping have collaborated on a Joint Industry Project to enable product tanker charterers and shipowners to utilise Methanol as fuel regardless of the cargo carried.



Virtual Flowmeters - free Digital Ship webinar next week

(Nov 26 2020)

Many shipping companies realise they need better fuel information - but then see the only way to do it is with a flowmeter, which is expensive to install and may require a dry dock.



April-May 2021

Safety risks from digitalisation and decarbonisation - seafarer mental health - ABS advice on ballast water systems