- Purus has ordered a third 98,000-m3 VLEC.
- Alpha Gas is actively participating in this trend.
- VLGC freight rates from Houston to northwest Europe dropped.
Purus, a relatively unknown Itochu subsidiary, has ordered a third 98,000-m3 Very Large Ethane Carrier (VLEC) from Hyundai Heavy Industries in South Korea, reports Rivera.
The VLEC will feature dual-fuel ethane engines and optimized cargo handling systems, promoting lower CO2 and SOx emissions. Additional energy-saving devices are planned to further contribute to emissions reductions. Delivery of the vessel is scheduled for 2027, and it is destined for a long-term time charter
Other Purus Orders
Purus has four 180,000-m3 LNG carriers on order from Samsung Heavy Industries, with the first set for delivery in 2024.
Additionally, the company has four 45,000-m3 medium gas carriers on order at Hyundai Mipo, with the first ammonia dual-fuel ready vessel expected in 2025.
Purus currently operates three conventionally powered medium-sized (40,000-m3) LPG/ammonia carriers with ballast water treatment systems.
LPG/Ammonia Carrier Market Insights
A mini-boom in LPG/ammonia carrier orders is evident, with 54 very large carriers on order, reflecting the growing demand for ammonia as a major fuel source.
Greek owners, including Alpha Gas, are actively participating in this trend, ordering 93,000-m3 carriers from Hanwha Ocean and Hyundai.
VLGC Freight Rate Trends
VLGC freight rates from Houston to northwest Europe dropped to US$56/tonne, down by US$5/tonne for the week ending 25 January 2025.
Freight rates to Morocco also declined to US$52.75/tonne, a decrease of US$4.75/tonne.
Freight rates from Houston to Japan were assessed at US$92/tonne, reflecting an $8/tonne decrease.
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Source: Riviera
