Chinese polyurethane producer Wanhua Chemical Group is stepping up its presence in the shipping business with orders for very large ethane carrier (VLEC) newbuildings worth about $512m.
Shipbuilding sources said the state-controlled company has inked up to four 99,000-cbm ethane carriers at Jiangnan Shipyard. The order is for two firm vessels plus two options.
Officials at Jiangnan declined to comment on the shipyard’s newbuilding contracts, citing contract confidentiality.
