Petredec Holdings signs contract for the construction of 3+3 × 93,000 cbm LPG carriers at Jiangnan Shipyard in China
Petredec Holdings (Eastern) PTE Ltd has announced the signing of a contract for the construction of 3+3 × 93,000 cbm LPG carriers at Jiangnan Shipyard in China, MAN said in its release.
Each vessel will be powered by individual MAN B&W 6G60ME-LGIP dual-fuel engines, capable of running on LPG.
Philip Harwood, Petredec Fleet Director, added: "Petredec has always been at the forefront of new technology and this order continues our tradition of investing in the most efficient and environmentally friendly solution. We are convinced that using LPG as bunker fuel in the MAN Energy Solutions ME-LGIP engine is the best contributor to achieving the targeted 40% reduction in CO2 emissions by 2030".
Giles Fearn, Petredec Group CEO commented "We are proud to have ordered the next generation of VLGCs, which marks an important step for both us and the industry towards decarbonisation by emitting 30% less CO2 than the previous generation 84,000 cbm ships burning LSFO. It clearly positions Petredec as the pre-eminent owner of VLGC's with dual-fuel LPG and we are excited for what this next chapter in the company's evolution will bring".
The initial, firm three vessels are scheduled for delivery in January, March, and May 2023, and the optional vessels within Q2 and Q3 2023. With an existing fleet of 21 VLGC's, Petredec is already the second-largest owner of VLGCs in the world and with an average age of 3.5 years, the lowest in its market segment.
The new order follows on the heels of the announcement in October 2020 by MAN PrimeServ, MAN Energy Solutions' after-sales division, that it had successfully converted the main engine aboard the LPG carrier, 'BW Gemini', from an MAN B&W 6G60ME-C9.2 type to an MAN B&W 6G60ME- LGIP unit. The BW Gemini is part of the fleet of Oslo-listed, BW LPG.
In general, harnessing LPG propulsion translates into cleaner, more efficient engines that are cheaper to maintain. In addition, the fuel flexibility of dual-fuel engines ensures full redundancy for uninterrupted operations. Compared to 2020-compliant fuels, using LPG as a fuel reduces SOx by 99%, CO2 by 15%, NOx by 10%, and particulate matter by 90%.