MISC's Seri Everest completes largest loading of ethane in shipping history

MISC's Seri Everest completes largest loading of ethane in shipping history
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KUALA LUMPUR (Jan 20): MISC Bhd’s first very large ethane carrier (VLEC), Seri Everest, completed its inaugural full cargo loading on Jan 17, which was the largest loading of ethane in the history of ethane shipping to date.

The cargo was loaded under the expert supervision of Eaglestar, the appointed ship manager at the newly constructed Orbit Ethane Export Terminal in Nederland, the United States (US), the energy-related shipping company said in a statement today.

Seri Everest is the first second-generation VLEC to export ethane out of the new terminal.

President and group chief executive officer Yee Yang Chien said the accomplishment marked the first cargo loading for the largest VLEC of its kind in the market.

“I believe this is the start to many achievements ahead in serving the market needs for ethane. The steady increase in trading volumes has allowed us to gain the first mover advantage as our vessels offer more cargo capacity to accommodate production growth,” he said.

Yee added that this historic milestone demonstrated company’s commitment to the client and delivery assurance in accordance to the highest safety and quality standards.

Seri Everest is the first in a series of six VLECs that MISC purchased in July 2020.

All the six VLECs are contracted to Zhejiang Satellite Petrochemical Co Ltd (STL) for a long-term charter of 15 years.

MISC said Seri Everest was currently on the return of its maiden voyage from the US to Lianyungang ethylene plant located at Jiangsu province, China.

“Throughout her maiden voyage and during the operation, MISC and Eaglestar have adopted the new normal of robust safety measures and procedures including limited personnel onboard during operation, social distancing, and minimal close contact,” it said.