Sabic signs deal for 38,000 cbm gas carrierby Slavka Atanasova on Nov 15, 2016
Ocean Yield ASA on Monday said it will deliver a 38,000 cbm liquefied ethylene gas carrier to Saudi Arabia Basic Industries (Sabic) in Houston in December.
The vessel will be leased under a ten year sub-charter agreement and will be used for shipments of ethane from Houston to Sabic's cracker in Teeside, UK.
It is the first of two sister vessels to be delivered, the second being scheduled for July 1, 2017.
Upon delivery the vessel commenced a 15-year "hell and high water" bareboat charter to the Hartmann Group ("Hartmann") and will enter into a 10 year sub-charter to Sabic upon arrival in Houston in December. The vessel will be used for shipments of ethane from Houston to SABIC's cracker in Teeside,UK.
The eco-friendly LEG carrier, which was developed by the Hartmann Group, has 30% higher capacity compared to traditional tankers.
It is equipped with MAN B&W dual fuel 2-stroke engine and can operate on different fuels including ethane.
Ocean Yield ASA's chief executive Lars Solbakken said: "We are pleased to take delivery of the Gaschem Beluga which has a very innovative design and will be used to transport ethane for one of the world's largest petrochemicals manufacturers."