Petredec orders up to six LPG dual fuel VLGCs in China

Singapore-based shipping and trading company Petredec Holdings (Eastern) has signed a contract for the construction of up to six 93,000 cbm LPG carriers with dual fuel LPG propulsion at Jiangnan Shipyard in China.

The contract includes three firm very large gas carriers (VLGCs) and three options.

As informed, the initial firm three vessels are scheduled for delivery in January, March and May 2023 and the optional vessels within Q2 and Q3 2023.

Specifically, Jiangnan has designed the new Panda-class 93k cbm vessel with advanced technology to improve hull efficiency and lower consumption, in conjunction with classification society DNV-GL.

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.

“We are convinced that using LPG as bunker fuel in the MAN ES LGIP engine is the best contributor to achieving the targeted 40% reduction in CO2 emissions by 2030,” Phillip Harwood, Petredec Fleet Director, commented.

“We are proud to have ordered the next generation of VLGC’s, which marks an important step for both us and the industry towards decarbonisation by emitting 30% less CO2 than the previous generation 84,000 cbm ships burning LSFO,” Giles Fearn, Petredec Group CEO, said.

With a fleet of 21 VLGCs on the water, Petredec is the second-largest owner of VLGCs in the world.

This includes four scrubber-fitted R-class 84,000 cbm units that were handed over to the company by Jiangnan Shipyard earlier this year.

In addition, the company has four 22,000 cbm liquid ethylene gas (LEG) carriers on order at Jiangnan. The ships are slated for delivery in 2021 and 2022, VesselsValue’s data shows.