PGPICC is lifting at Assaluyeh a 44,000 mt propane cargo aboard the VLGC
NYSE: LPG), an owner and operator of modern Very Large Gas Carriers, has taken delivery of the ECO VLGC
Commodore from Hyundai Samho Heavy Industries and the ECO VLGC
Cresques from Daewoo Shipbuilding and Marine Engineering.
The company added that the facility will have the capability of handling up to VLGC
(very large gas carriers) class ships.
In its statement today, Exmar said the JV, called Exmar LPG BVBA, controls 15-owned mid-sized carriers (MGC), time-charters in three MGCs and two very large gas carriers (VLGC
) and bareboat-charters in one MGC and one VLGC
- The spot market is enjoying a strong recovery.
The first four vessels to be drydocked and repaired under the new agreement will be the 1985-built Very Large Gas Carrier (VLGC
) Berge Racine, 81,698 cu m; the 1991-built VLGC
BW Captain, 78,530 cu m; the 285,739 dwt crude oil tanker BW Nile (to be renamed BW Elbrus), and the 2007-built product tanker BW Columbia, 76,604 dwt.
will have the capability to simultaneously unload two VLGC
ships which typically carry up to 550,000 barrels of LPG.
will be employed under a time charter on a fixed rate with ten years firm duration to an oil major trading company.
Pertamina's marketing director Hanung Budya said earlier the company had always had to rent VLGC
for LPG transport.
Avance Gas owns one VLGC
, operates a second one and also time charters a medium-sized gas carrier.
LPG: EXMAR's VLGC
and MGC fleets are covered for 75% and 90% respectively which reduces the exposure to the spot market.
In July 2017, the Company signed a contract to sell VLGC