Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, have announced the establishment of a joint venture for the commercial management of ethane carriers.
The new company, United Ethane Carriers (UEC), will be based in Singapore. As explained by Hartmann in a press release, its purpose will be 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”, saysJacques 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.
The first vessels under the new joint venture will be five ethane-fuelled 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 un-disclosed party, reads the release.
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 release adds.