INEOS Europe AG and IINO Kaiun Kaisha Ltd. (IINO Lines) signed long-term time charter agreements for two 99,000cbm VLECs (Very Large Ethane Carriers). IINO will deliver the vessels to INEOS in 2025 and 2026.
This deal will help bring INEOS’ ethane fleet to a total of 18 vessels, including ten VLEC and eight Dragon Class ethane carriers, expected to be the largest ethane fleet in the world.
Meanwhile, this deal will represent IINO’s first venture into Very Large Ethane Carriers, with the company adding to a fleet of 97 vessels.
This is a brilliant milestone for IINO in terms of transporting liquefied ethane gas, a new liquefied gas cargo, and we also believe that it will contribute to the expansion of our new energy transportation business
said Hiromi Tosha, President IINO Lines.
What is more, David Thompson, CEO of INEOS Trading & Shipping, added that “this deal is another major step forward for INEOS Trading & Shipping”, and signifies their ongoing growth in Ethane trade.
