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United Ethane Carriers Established

First project is a series of five 85,000 cbm ethane-fuelled VLEC-carriers

Published Sep 17, 2014 10:23 AM by The Maritime Executive

Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, announce the establishment of a joint venture for the commercial management of ethane carriers. 

The new company, “United Ethane Carriers” or UEC, will be based in Singapore. Its purpose is to develop the ethane business, focusing on marketing, branding and commercial management of ethane carriers internationally. 

“We’ve known each other for a long time now, meaning that we also know and appreciate the other one’s strengths”, says Jacques de Chateauvieux, CEO of Jaccar Holdings. “We found that our strengths complement each other very well, particularly in this highly specialized market. UEC provides expertise for our customers’ benefit”, adds Alfred Hartmann, Chairman of the Supervisory Board of Hartmann AG. 

UEC’s opening project: five ECO STAR 85K-vessels 

The first vessels under the new joint venture will be five ethane-fueled VLEC-carriers with a capacity of 85,000 cbm each, the so called ECO STAR 85K. They will be employed on a long term Time Charter with an undisclosed party. 

Evergas (a JACCAR Holdings company) and GasChem Services (a Hartmann Group company) will continue to serve their client relationships independently of the new United Ethane Carriers joint venture.

The products and services herein described in this press release are not endorsed by The Maritime Executive.