Zhejiang Satellite Petrochemical orders world's largest VLEC!

Following last year's order for six of the world's largest VLECs, Zhejiang Satellite Petrochemical will order another six VLECs for its new petrochemical project.

Four of the ships will be built by South Korean companies, and the other two are expected to be built by Chinese companies.

On August 25, Satellite Petrochemical announced that it had placed orders with Hyundai Heavy Industries and Samsung Heavy Industries for a total of four 98,000 cubic meters of VLECs at a total cost of about US $441 million. This is the first VLEC order in the world this year.

In addition to the latest 4 ships in South Korean shipping companies, Satellite Petrochemical also has 2 VLECs, which will be ordered by Tianjin Southwest Maritime as the shipowner to choose the shipyard. It is expected that the construction work of the two VLECs will be placed in Chinese domestic shipyards.

In July this year, STL transferred the six VLECs to MISC BERHAD and signed a ship chartering agreement with MISC's wholly-owned subsidiary Portovenere and Lerici (Singapore) for the term of 15 years, starting from the fourth quarter of 2020, the total rent is approximately US$1.5 billion.

With a total length of 230 meters, a width of 36.6 meters and a height of 22.8 meters, VLEC is by far the world's largest ethane carrier, capable of carrying raw materials such as ethane, propane and ethylene.

Zhejiang Satellite Petrochemical is the largest domestic and top five acrylic acid manufacturer in the world, and the first domestic private listed company that uses propane as a raw material to form an integrated C₃ industry.

Source: Sarah Yu, XINDE MARINE NEWS

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