Petredec to construct an additional three 93k cbm dual fuel LPG propulsion VLGCs

Petredec Holdings (Eastern) PTE Ltd (“Petredec”) has announced today that they have exercised their option to construct an additional three 93,000 cbm LPG carriers with dual fuel LPG propulsion at Jiangnan Shipyard (Group) Co. Ltd. They are expected to deliver in June, August and September 2023. This follows on from an announcement in early November 2020 for an initial order of three vessels.

This order cements Petredec’s 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. The order also increases Petredec’s VLGC fleet to 27, further solidifying both their positions as the world’s second largest VLGC owner and operators of the sector’s youngest fleet.

Giles Fearn, Petredec Group CEO, commented “We are delighted to have expanded our fleet with our good friends at Jiangnan Shipyard. 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.’