With the shale gas boom and the rising demand for ethane, LPG shipowners are starting to explore the nascent ethane shipping and VLEC market.
Germany’s shipowner Hartmann Reederiei happens to be one of the first movers. The shipowner already announced its joint venture with Jaccar Holdings. The JV named United Ethane Carriers will commence commercially managing five 85,000 cu m VLECs.
Further Hartmann is expected to bareboat charter three 36,000 cu m liquid ethane gas carriers for 15 years. The carriers are being built at Sinopacific Shipbuilding and expected to be completed and delivered in 2016.
Traders believe that this new business has a lot of potential in the future as it is driven by shale gas.
Will other shipowners follow suit? How will this impact the LPG shipping industry? What will be the challenges and opportunities in LPG vs Ethane & Naphtha in Petrochemical Production?
Answers to the above will be shared at CMT’s annual event – 10th LPGTrade Summit on 23-25 November, 2015 in Istanbul.
Contact Ms. Huiyan at email@example.com or call +65 6346 9113 for more details.