Lauritzen expands LPG fleet

Lauritzen Kosan, the gas arm of Danish shipowner J. Lauritzen A/S, has signed a newbuilding contract for a series of four semi-pressurised gas carriers with ethylene capacity at INP Heavy Industries in South Korea. The deal includes options for further vessels. The first vessel will be delivered in the fourth quarter of 2006 and the order represents a combined value of about $125 million.

The newbuildings will have a capacity of 8,000 cubic metres and provide great flexibility in servicing the petrochemical industry. The vessels represent an innovative vessel design that has been developed in close cooperation between Lauritzen Kosan, the yard and German gas engineering company, Tractebel.

The newbuildings will be the first gas carriers designed with IMO Green Passport, and emphasis on environmentally-friendly solutions has been a main consideration through the entire design process.