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Petredec orders up to six VLGCs at Jiangnan Shipyard

Singapore-headquartered gas trading and transport company Petredec Holdings has entered into shipbuilding contracts with China’s Jiangnan Shipyard for the construction of up to six 93,000 cu m LPG carriers with dual fuel LPG propulsion.

The three firm vessels will be delivered in January, March and May 2023 and the optional vessels within the second and third quarter of 2023.

This latest order follows Jiangnan Shipyard delivering four 84,000 cu m VLGCs to Petredec earlier this year.

“We are proud to have ordered the next generation of VLGCs, which marks an important step for both us and the industry towards decarbonisation by emitting 30% less CO2 than the previous generation 84,000 cu m ships burning LSFO. It clearly positions Petredec as the pre-eminent owner of VLGCs with dual fuel LPG and we are excited for what this next chapter in the company’s evolution will bring,” said Giles Fearn, CEO of Petredec Group.

Petredec is currently the second largest VLGC owner in the world with a fleet of 21 VLGCs.

China Shipbuilding, 2014