Petredec adds to Jiangnan ethylene series

Petredec Holdings has exercised its option for the construction of two more 22,000 cu m ethylene carriers at China’s Jiangnan Shipyard, bringing its total order to four units. These optional vessels will deliver in May and September 2022.

Petredec chief executive Giles Fearn commented: “Petredec is delighted to expand this latest series of handysize ethylene capable carriers with Jiangnan Shipyard to four vessels. Our close relationship dates back to 2007, during which time we have ordered a total of 16 LPG/ethylene vessels, making us their number one LPG/ethylene customer during this period. We are also very much looking forward to the imminent delivery of four scrubber-equipped 84,000 cu m VLGCs, three of which are due in the first week of January and one in February 2020, which coincides perfectly with the implementation of the new IMO 2020 rules.”

Petredec has grown rapidly in recent years and now ships over 10m tonnes of LPG annually on a fleet of over 60 owned and chartered LPG vessels.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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