Evergas doubles up

Jacques de Chateauvieux’s Evergas has doubled its orderbook of LNG-ethane multigas carriers at China’s Sinopacific Offshore & Engineering.
Jacques de Chateauvieux

Jacques de Chateauvieux

Chief executive Martin Ackermann says the initial contract for three 27,500 cbm vessels has been expanded to six.

He declines to comment on the price of the additional newbuildings, which extend the owner’s dominant position in the market.

Noting the company is still the only shipowner to contract tonnage specifically for global ethane transport, he says there is a clear strategy to further grow the fleet.

The expansion of Evergas’s orderbook for the world’s largest multigas carriers comes after a contract with INEOS Europe for the transport of gas from the US Mariner East to Europe was enlarged. Shipments for the shale gas driven contract will begin next year.

David Thompson, chief operating officer at INEOS Trading & Shipping, said in a statement: "Having worked successfully with Evergas for more than a decade we are very confident that these vessels will provide long term security and competitiveness of our feedstock supplies”.

Evergas announced the newbuildings on the same day as it will take delivery of the 12,000-cbm JS Greenstone from Sinopacific.  Three sisterships remain under construction at the shipyard.