Petredec entered the fully refrigerated LPG trading market in 1999 and quickly realised the key to success was to operate a high quality fleet of VLGCs.

This would enable the trading team to offer a cost effect and flexible service to our customers. In the early years, Petredec's fleet consisted of time chartered tonnage on hire from first-class Japanese and Korean owners.

This relationship has continued but the fleet ownership has evolved throughout the history

of the company into a more diversified fleet configuration including owned and chartered vessels.

Following from Petredec's first VLGC purchase the Maori Venture, 2008 saw Petredec’s first new buildings "Mill House" and "Mill Reef" delivered from HHI in Korea.

The two vessels were taken on time charter by the Korean ship owner HHM for 5 years.

In the same year the company also took delivery of another new building "Yuyo" on long-term time charter.

With Petredec's trading team becoming the single biggest lifter of LPG in the

AG, with up to 15 loadings per month, the company recognised the need to increase our fleet of VLGCs further and, in 2009, took on bare boat time charter the "Crystal Mermaid".

With continued expansion of both East and West of Suez, the need to operate our own tonnage to ensure reliable service to our customers became apparent and the vessel "Reference Point" was purchased in 2010.

Petredec has always looked to the future and, with an aging global VLGC fleet and an expected large increase in LPG supply, the company made the decision to order 3 further new buildings from HHI for delivery between Q4 2012 and Q3 2013.