Ethane Carrier Pacific INEOS Grenadier Named in Houston
One of the world’s largest ethane carriers was named Pacific INEOS Grenadier during a ceremony held Tuesday in Houston.The 230-meter-long, 99,000 CBM very large ethane carrier (VLEC) and is the latest ship to join the INEOS fleet. It will be operated by Pacific Gas.Built in Jiangnan, China, the ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimizes vessel capacity. The ship also has the potential to carry other products such as liquefied petroleum gas (LPG) and ethylene.At the ceremony…
World’s First IMO Type-B Tank VLEC Named in Houston
Ineos' new ethane carrier, said to be the world's largest and first with IMO type-B tanks, was named Pacific Ineos Belstaff at a ceremony in Houston.The 230-meter-long, 99,000-cubic-meter-capacity very large ethane carrier (VLEC) was built by China's Jiangnan Shipyard and will be operated by Pacific Gas, primarily for the transport of U.S. ethane to China and Europe. The ABS-classed ship, which is the first in the world to feature newly designed IMO type-B tanks that fit closely to the external shape of the vessel for optimized vessel capacity…
Evergas Names The First 85,000m3 VLEC
Danish gas ship owner Evergas announced that the worlds first Type-C 85,000m3 very large ethane carrier (VLEC) JS INEOS MARLIN was successfully delivered to INEOS Trading and Shipping.The vessel will carry ethane from US to China, said a press release from the company.The vessel has the largest Type-C tank ever made and Evergas has pushed the limit to 85000 CBM with a newly constructed Trilobe tank.The Dual-fuel Engine is over 16000 Kw from MAN Dual-fuel engines and MAN Alpha Propellers and is fueled by ethane, the vessel’s cargo.Guests at the ceremony included Godmother of the vessel Mrs. Aimee Ratcliffe, spouse of Sam Ratcliffe – INEOS and David Thompson, CEO Trading & Shipping – INEOS.
INEOS to Ship US Ethane to China in 2019
U.K. chemicals firm INEOS said it has entered a long-term supply agreement with Singapore-based SP Chemicals to ship ethane from U.S. shale gas to China for the first time starting in 2019. “This is another world first for INEOS after importing shale gas to Europe in 2015,” said David Thompson, CEO of INEOS Trading and Shipping. “By bringing in U.S. The deal involves the construction of a 95,000cbm capacity Very Large Ethane Carrier (VLEC), which is expected to be the world’s largest ethane carrier upon its delivery in 2019. The VLEC will be built under the management of the JACCAR Group.
Oil Sheds 5% on Brexit Worry, Supply Builds
NEW YORK, July 5 (Reuters) - Oil prices tumbled nearly 5 percent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy, making it unlikely energy demand will grow enough to absorb a supply glut. Brexit worries hit Britain's property market and drove the pound to a 31-year low. A flurry of data from China in coming weeks is likely to show weaker trade and investments. Traders also cited data from market intelligence firm Genscape showing a build of 230,025 barrels at the Cushing, Oklahoma storage hub for U.S. crude futures, during the week to July 1. "There are risk-off trades across the board," said David Thompson, executive vice-president at Washington-based commodities broker Powerhouse.
Evergas & INEOS Expand Dragon Vessel Series
Evergas has reached an agreement with INEOS to expand its new-building series of ethane/multigas vessels from six to eight units. In January 2013, Evergas announced for the first time that it had secured shipping agreements of up to 15 years with INEOS for the worlds’ first transatlantic shipments of ethane with commencement in 2015. The fleet of eight vessels will bring US ethane from shale gas to INEOS’ manufacturing sites in Grangemouth, Scotland and Rafnes, Norway. This advantageously priced feedstock will have a highly positive impact for the company’s European operations that so far have relied on declining and expensive volumes from the North Sea. Furthermore it will support the company’s longevity of being a leading and cost-efficient petrochemical producer.
AEUK Sponsors Submarine Race Team
Atlas Elektronik UK (AEUK) announced that it has been welcomed on board as one of the sponsors of the Bath University Team (BURST) for this year’s European International Submarine Race (eISR) to be held July 7-11, 2014 in Gosport. AEUK said it decided to sponsor the team due to the technical expertise and promise that they have shown, and the sponsorship has enabled the team to purchase valuable tools and materials required in the run up to the races themselves. Graduates and Senior Management from AEUK have already made visits to the University to meet the team and learn a little more about the project and what they are working on. A company spokesman for AEUK said, "AEUK chose to sponsor the BURST team due to their passion and enthusiasm when we visited them at the University.
