Norwegian pure-play VLGC owner Avance Gas Holding has ordered two 91,000 cu m LPG dual-fuel VLGCs at South Korea’s DSME.
The vessels have the latest dual-fuel propulsion systems which the company says will significantly lower fuel consumption, reduce fuel costs and reduce emissions compared to any other VLGC on the water.
Ulrik Uhrenfeldt Andersen, chief executive officer of Avance Gas, commented: “Signing the contracts is a milestone for Avance Gas. The new vessels offer larger intake, lower daily consumption and, naturally, the possibility of burning LPG, which is much cheaper and cleaner than compliant fuel. Together, these features translate into unrivalled levels of operational efficiency.
“The investment also means we are delivering on our sustainability agenda. By reducing SOx emission with 97-100%, particulate pollution with 90% and significantly reduce CO2 emissions compared to modern conventional VLGC tonnage, we are taking the first steps towards a low-carbon future.”
Andersen said the vessels were ordered at a very attractive price, with a tail-heavy payment structure.
Delivery is scheduled for the fourth quarter of 2021 and first quarter of 2022.
Avance Gas currently has 14 VLGCs in its fleet.