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Fortitude Transport, a handysize service subsidiary of fuel shipowner and dealer Petredec, has positioned an order at China’s Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) for as much as 4 ethane/ethylene succesful vessels.
The London-headquartered unit has struck a deal for 2 agency 24,000 cu m vessels for supply in March and July 2026, with the choice to construct an extra two items.
The proprietor of the second largest fleet of very giant fuel carriers (VLGCs), made up of round 30 fashionable vessels, unveiled Fortitude in November final yr with an 11-strong fleet between 21,000 cu m and 22,500 cu m and a mean age of 4 years.
The order will additional scale back the typical age of Fortitude’s fleet, which, in keeping with Petredec, is already the youngest and most fuel-efficient throughout the sector.
Commenting on the deal, Petredec chief govt Giles Fearn mentioned: “Petredec is delighted to ascertain a relationship with CIMC SOE and to consolidate Fortitude’s main market share by increasing its ethane/ethylene-capable fleet. The ethane/ethylene sector is nicely positioned to profit from the beneficial basic tailwinds of robust, seen export capability enlargement within the US Gulf Coast and restricted fleet development over the following 5 years.”
The primary two vessels shall be named Emblematic and Eleanor after the winners of two of probably the most well-known horse races on the earth, the Grand Nationwide and the Epsom Derby.
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