The world's largest VLEC fully loaded with ethane sails to China

The world's largest ultra-large ethane carrier (VLEC) "Seri Everest" leased by Satellite Petrochemical recently completed the first full load of cargo, which is the largest ethane shipment in the history of ethane transportation so far.

Currently, the "Seri Everest" is returning from the United States to Lianyungang, China. It is understood that the "Seri Everest" was built by South Korea's Samsung Heavy Industries and was completed and delivered in late October 2020. It is the first of the six largest VLECs ordered by Satellite Petrochemical for the first phase of its Lianyungang petrochemical project. These 6 VLECs are all owned by MISC and signed a 15-year time charter contract with Satellite Petrochemical.

On December 30 last year, the maiden voyage of the "Seri Everest" arrived at the Orbit ethane export terminal to ship the first batch of cargo to the satellite petrochemical's ethane cracking production base in Lianyungang.

Satellite Petrochemical signed a Lianyungang petrochemical project cooperation agreement with the National East, Central and Western Regional Cooperation Demonstration Zone (Lianyungang Xuwei New District) in December 2017 to build China's first ethane cracking ethylene plant in Lianyungang. This olefin comprehensive utilization demonstration industrial park project has an annual output of 4 million tons and a total investment of about 33 billion yuan including tax. The project content includes an annual output of 2.5 million tons of ethane cracking to ethylene and an annual output of 1.5 million tons of propane dehydrogenation to propylene. Wait.

According to the chemical online WeChat editor, on December 29, 2020, Lianyungang Petrochemical, a wholly-owned subsidiary of Satellite Petrochemical, held a mechanical handover ceremony for the first phase of the 1.25 million tons/year ethane cracking ethylene plant for integrated processing and utilization of light hydrocarbons.