Norwegian LPG and petrochemical specialist Solvang and its partners have signed a newbuild contract for the construction of two 78,700 cbm LPG carriers with Hyundai Heavy Industries in Korea.
The new panamax VLGC vessels are scheduled for delivery in the second and third quarters of 2017. They will be able to transit both the new and old Panama canal.
Solvang, which currently operates half of the existing global panamax VLGC fleet, will be the managing owner of the vessels placed into an existing shipowning companies where Solvang has 30% ownership.
Once delivered, both vessels will go straight into 10 year time charter contracts with an undisclosed oil major.
