New Gas Carrier Orders Affect Ammonia power

Credit: evangelos-mpikakis-5i2F7avw8DI-unsplash

Ammonia power linked to latest gas carrier orders, highlights a Riviera news source.

Gastech 2023

With announcements from Gastech 2023 dominating the news, several LNG and LPG gas carrier newbuilding contracts have gone under the radar.

Despite the excitement surrounding AiPs at Gastech 2023, the conveyor belt of new LNG and LPG gas carrier orders continues to role. As captured by contracting specialist BRL, Chinese builders have made a significant advancement in their LNG business by obtaining a licence to use French GTT containment technology, according to the latest report.

BRL reports Dalian Shipbuilding Industry is leading the way, having received orders for three 175,000-m3 LNG carriers from Cosco Shipping Energy Transportation with GTT Mark III membrane tank containment technology. Each vessel comes with a price tag of US$233M and deliveries will begin March 2027. The vessels are already committed to 19-year charters with China’s Sinopec, with the option for five-year extensions.

According to Clarksons Research Services (CRS), the LNG carrier orderbook currently represents 52% of the live fleet, excluding the forward orders reported above. In the capacity range of 150,000 m3 to 180,000 m3, the orderbook makes up a substantial 77% of the live fleet.

LPG carriers continue to attract significant attention

It is reported Solvang has exercised options for two additional 88,000-mLPG carriers, bringing the total number on order from Hyundai for Solvang to five vessels at a cost of US$106M each.

Eastern Pacific Shipping is reported to be on the cusp of ordering four dual-fuel (possibly ammonia) 86,000-m3 LPG/ammonia carriers at around US$110M each with deliveries from March 2027.

According to CRS, excluding the aforementioned orders, the LPG orderbook for vessels over 65,000 m3 currently represents 25% of the live fleet, with 88 vessels on order.

In an exciting collaboration, Greek owner Marinakis of Capital Maritime & Trading and Idan Ofer’s Eastern Pacific Shipping have joined forces to invest in a new design of LPG/ammonia tanker. Together, they will jointly own four 88,000-m3 capacity units, which will be built by Hyundai. These carriers, which are expected to be among the largest in service, will be joined by two more vessels at Jiangnan Shipyard, bringing the total number on order to six vessels.

The partnership with Capital Maritime & Trading is believed to stem from a more favourable price level of US$115-116M per vessel.



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Source: Riviera


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