The latest orders take the Singapore-based LPG shipping and terminal operating company’s backlog to 12 VLGC newbuildings.
Petredec chief executive Giles Fearn said the company’s orderbook was in fact “very low risk” and that it has “no speculative VLGC orders”.
“We have a VLGC capex programme of over $800m, however all of the ordered ships have committed employment, either under long term time charter to third parties, or as part of our own LPG trading platform,” he said.
Petredec,
