UK-based shipowner Purus Marine has upped its orders for very large ethane carriers by inking an order for a single ship at HD Hyundai Heavy Industries against term charter business with a major charterer.
Purus said on Monday it has ordered an additional VLEC from Hyundai Heavy Industries, lifting its total number of newbuildings there to three.
The company’s earlier two VLECs were contracted in November 2023.
Earlier in the day, HD Korea Shipbuilding & Offshore Engineering said it had secured a single VLEC order priced at KRW 230bn ($172m) from an Asian shipping company. It did not disclose the name of the buyer.
Shipbuilding sources named Purus as behind the order of the single 98,000-cbm VLEC.
They said the company has ordered the gas carrier against a long-term charter to chemical giant Ineos.
TradeWinds has contacted Purus about the order.
Sources said Purus’ latest newbuilding is priced slightly higher than the first two vessels, which were reported to cost $170m apiece.
“This third newbuilding is not an option vessel … it’s a new contract,” said one shipbuilding player.
Like its earlier two VLECs, Purus’ latest newbuilding will feature dual-fuel ethane engines and optimised cargo-handling systems, enabling lower CO2 and SOx emissions.
The company said emissions will be further reduced with the additional energy-saving devices.
Purus said all three VLECs will directly enter into long-term time charter contracts upon delivery in 2027.
Sources said the company’s earlier two newbuildings are also fixed to Ineos.
Purus has three 40,000-cbm midsize gas carriers trading.
But the company is expanding its fleet with newbuildings. Besides the VLECs, it has four LNG carriers and four 45,000-cbm gas carriers under construction at South Korean shipyards.
The 180,000-cbm LNG carriers are being built by Samsung Heavy Industries and are slated for 2024 and 2025 delivery, while the medium gas carriers are booked at Hyundai Mipo Dockyard for 2025 and 2026 delivery.
HD KSOE is the holding company of HD HHI, Hyundai Samho Heavy Industries and HMD.
The shipbuilding group has set an order target of $13.5bn for this year and has so far achieved 25.4%, or $3.17bn, of newbuildings contracts.
