Shanghai: Chinese energy firm Oriental Energy has announced that it has signed a 10-year time charter contract with Singapore’s 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 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]
