London-headquartered chemicals firm Ineos has sealed a long-term charter deal with Japanese shipping line Iino Kaiun Kaisha (Iino Lines) for two newbuild very large ethane carriers (VLECs).
The 99,000 cu m newbuilds will deliver in 2025 and 2026 bringing Ineos’ ethane fleet to a total of 18 vessels, including ten VLECs and eight Dragon class units, said to be the world’s largest ethane fleet. The company already has the largest ethane carrier the 99,000 cu m Pacific Ineos Belstaff (pictured) delivered by Jiangnan Shipyard last year.
(pictured) delivered by “This deal is another major step forward for Ineos Trading & Shipping, and signifies our ongoing growth in Ethane trade,” said David Thompson, CEO of Ineos Trading & Shipping.
The deal is also Iino’s first venture into VLECs, with the company adding to a fleet of 97 vessels and building on more than 60 years of experience in gas shipping.
“This is a brilliant milestone for Iino in terms of transporting liquefied ethane gas, a new liquefied gas cargo, and we also believe that it will contribute to the expansion of our new energy transportation business,” added Hiromi Tosha, president of Iino Lines.
