Chinese very large gas carrier (VLGC) player Pacific Gas is moving into the market for smaller LPG carriers by taking over contracts for five newbuildings at domestic yard Nantong CIMC Sinopacific Offshore & Engineering.
The shipowner is buying three ships of 22,000 cbm and two of 17,000 cbm that had been ordered at the yard but later cancelled.
The two 17,000-cbm ships will be delivered to Pacific Gas in January.
