Petredec lifts option for three more LPG-powered newbuilds at Jiangnan

Petredec Holdings (Eastern) PTE Ltd has exercised the option to construct an additional three 93,000 cbm LPG carriers with dual fuel LPG propulsion at Jiangnan Shipyard.

The ships are expected to deliver in June, August and September 2023.

The order comes on the back of an announcement made in early November 2020 for an initial order of three vessels. 

The new Panda-class 93k cbm vessel, designed by Jiangnan, features advanced technology to improve hull efficiency and lower consumption, in conjunction with classification society DNV.

The vessels will also be fitted with a shaft generator to use LPG to provide the auxiliary power at sea, further enhancing their green credentials.

As disclosed in November, by bunkering LPG as a marine fuel to MAN ES LGIP engines, the company aims to achieve up to 40% reduction in CO2 emissions by 2030.

The company said that the order cements its position as the ‘pre-eminent’ builder of LPG/ethylene vessels at Jiangnan Shipyard with a total of 22 vessels, 12 of which have already been delivered.

“Since our original order back in November 2020, the move towards reducing carbon emissions in shipping has gathered serious momentum. It is a subject that we take very seriously at Petredec, which is evidenced by these next-generation ships on order,” Giles Fearn, Petredec Group CEO, said.

The order increases Petredec’s VLGC fleet to 27.