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Tianjin Southwest Maritime orders VLECs for Zhejiang Satellite

Tianjin Southwest Maritime orders VLECs for Zhejiang Satellite

Tianjin Southwest Maritime has signed shipbuilding contracts with Jiangnan Shipyard for a long-term charter contract with Zhejiang Satellite Petrochemical to construct two 98,000 cu m VLECs.

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Last month at Hyundai Heavy Industries and Samsung Heavy Industries, Satellite Petrochemical set an additional six VLECs through new orders for four new buildings and a 15-year charter deal with Tianjin Southwest.

The order marks the accession of Tianjin Southwest to the VLEC sector. Currently the company operates a fleet of 22 vessels consisting of 17 LPG carriers and five tankers.

Satellite Petrochemical is also looking for a sale-and-leaseback agreement to sell possession of the four new boats.

Maritime Business World 

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