Delos splits 12-VLEC $1.5bn order between Hyundai and Samsung

US investment firm books newbuildings against charters to China’s Zhejiang Satellite Petrochemical

26 July 2018 17:00 GMT Updated 25 July 2018 15:53 GMT

By Irene Ang , Lucy Hine and Joe Brady

in Singapore , London and Stamford

US private equity firm Delos Shipping is splitting orders for up to a dozen very large ethane carrier (VLEC) newbuildings, worth close to $1.5bn, between two shipyards in South Korea.

Shipbuilding sources said that Dallas-based Delos is contracting Hyundai Heavy Industries and Samsung Heavy Industries to build up to six 93,000-cbm gas carriers each. Each yard will receive an order for three firm vessels, plus three options.