With the witness by all the guests, the first 85,000cbm VLEC was successfully handed over by DSIC, which is the first carrier to transport ethane from U.S. to China, serving for the Maritime Gas Silk Road. Meanwhile， the keel laying of the second VLEC was also celebrated today, which shows our commitment to the VLEC market to build a series of VLEC to feed the ethane transportation market.
To achieve this milestone, with all the partners‘ contribution， we overcame the 5 challenges we had to face.
It started as an innovation challenge. With the great technical support from Hartmann team, the classification society, DNV GL and effort of in-house marine and gas engineering team, the semi-refrigerated solution with innovative Tri-lobe C-type tank design has been successfully applied into these two VLECs, a world first of its kind.
It became a manufacturing challenge in China. The DSIC, a leading shipyard representing Chinese manufacturing capability, is committed to and capable of delivering the high-quality VLECs on-time, with the support from WOE, which is the unique provider of Tri-lobe C-type mega tank in China.
It was a challenge to establish the trust among all the parties. Trust makes all construction work to go smoothly in DSIC, the leading Chinese shipyard, with EPC service from JHW together with ECONOVO and CGT, with the WOE manufacturing platform for mega tank, with the combined supervision of Hartmann and Evergas site teams. Through building the first VLEC, the trust between all the parties has been established and strengthened, which will make this partnership to be highly competitive in the global gas market to serve more customers.
It was a business challenge to have US ethane traded to Chinese users. This is the first operation of its kind going to happen through well-established international trader and for the benefit of SP Chemicals. The US ethane will be shipped and feed SP Chemicals cracker facility on the Yangtze River at Taixing.
Last but not least, the challenge of financing for a new vessel on a new trade. A Chinese leasing company with the insight to the market and understanding to the innovative vessel will provide the solid financing solution.
Today we have witnessed that the world first very large ethane and multi-gas carrier using the C Type tank and gas powered by its own cargo is a reality many would have think impossible. It multi-gas capability, with possible two cargo simultaneous transportation, will open an all new era of flexible trading possibilities.