Oriental Energy clinches another three VLGC charter contracts

Shanghai: Chinese energy firm Oriental Energy has announced that it has signed a 10-year time charter contract with Petredec for three 84,000 cu m VLGCs, taking the company’s VLGC fleet to 13 vessels.

The annual charter rate for each vessel is about $12.5m and the newbuilds will be delivered in 2016.

Oriental Energy has signed VLGC chartering deals with Shandong Shipping, Japanese owner Kumiai Senpaku and Hartmann Schiffahrts making a total of 10 VLGCs this year. The ten vessels are all scheduled for delivery by 2018.

Oriental Energy said the new shipping capacity will help support new projects in Zhangjiagang and Ningbo as well as a new project under planning at Caofeidian. [29/10/14]

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