Delos Shipping orders 12 VLECs at Korean yards

Delos Shipping orders 12 VLECs at Korean yards

US shipping investment firm Delos Shipping has placed orders at two Korean yards for the construction of a total of twelve 93,000 cu m very large ethane carriers (VLECs).

According to shipbroking sources, Samsung Heavy Industries and Hyundai Heavy Industries have each secured orders from Delos Shipping for three firm ships plus three options.

The total value of the order is around $1.5bn with delivery scheduled to start from the second half of 2020 and the vessels will be fixed to Chinese company Zhejiang Satellite Petrochemical under long-term charter contracts.

In March, Zhejiang Satellite Petrochemical announced a plan to set up a joint venture with US company Energy Transfer Partners to develop a new ethane export terminal in the US Gulf Coast to feed ethane to the company’s petrochemical plants in Lianyungang of China.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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