Singapore: Jaccar Holdings of Luxemburg and Hartmann Group of Germany have announced the establishment of a joint venture for the commercial management of ethane carriers.
The new company, United Ethane Carriers (UEC), will be based in Singapore and will focus on the marketing, branding and commercial management of ethane carriers internationally.
The first vessels under the new joint venture will be five VLEC carriers with a capacity of 85,000 cu m each. They are going to be employed under a long-term period charter with an undisclosed party.
"We found that our strengths complement each other very well, particularly in this highly specialized market. UEC provides expertise for our customers' benefit," said Alfred Hartmann, chairman of the supervisory board of Hartmann. [18/09/14]