Petredec exercises VLGC options

Singapore: Singapore-based LPG operator Petredec has exercised an option to build a further two VLGCs at Hyundai Heavy Industries. Petredec now has 12 VLGCs on order.

Petredec Chief Executive Giles Fearn said: "We have a VLGC capex programme of over $800m, however all of the ordered ships have committed employment, either under long term time charter to third parties, or as part of our own LPG trading platform. We have no speculative VLGC orders.” [21/02/14]

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