INEOS Takes Long-term Time Charter on VLEC Duo

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Credits: Venti Views/Unsplash

INEOS Europe AG and IINO Kaiun Kaisha Ltd. (“IINO Lines”) have signed long-term time charter agreements for two 99,000cbm (cubic metre) VLECs (Very Large Ethane Carriers). IINO will deliver the vessels to INEOS in 2025 and 2026, reads an official press release.

Long-term charter

In addition to other commitments recently announced by INEOS, this deal will help bring INEOS’ ethane fleet to a total of 18 vessels, including ten VLEC and eight Dragon Class ethane carriers, expected to be the largest ethane fleet in the world.

Meanwhile, this deal will represent IINO’s first venture into Very Large Ethane Carriers, with the company adding to a fleet of 97 vessels and building on more than 60 years of experience in gas shipping.

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Source: INEOS

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