Only six VLECs have been contracted globally and they were placed directly by India’s Reliance Industries at Samsung Heavy industries in July.

David Butters, chief executive of Navigator, says “pretty far advanced” talks have taken place with shipyards and charterers regarding deals for such vessels.

Speaking on a conference call with the company fresh from securing a charter for its first 35,000 cbm ethane carrier newbuilding, Butters said: “We have been discussing with shipyards the design and construction of very large ethane carriers (VLECs).

“Because