2019-11-13

Satellite Petrochemical and Hyundai Heavy Industries Build World’s Largest Propane Transportation Ship

Satellite Petrochemical signed “Transportation Ship Building Agreement” with Samsung Heavy Industries on March 6, 2019 and with Hyundai Heavy Industries on March 7, 2019.  The three giant corporations will cooperate together to build the world’s largest ethane transportation ships.  Mr. Yang, Chairman of Satellite Petrochemical, mentioned that Satellite hopes to build a paragon of the global logistics supply chain for petrochemicals with its partners by supplying feedstock to China’s first ethane cracking facility.  This cooperation is the key to the seaborne supply chain for the company’s ethane cracking facility based in Lian Yun Gang.  The parties will build six 98000 m3 ethane transportation ships in the first phase.  These ships are going to be the largest ethane transportation ships in the world.

 

Mr. Yang also emphasized that the company had been seeking cooperation with local partners to build the made-in-China ships.  In the second phase, the company’s goal is to find a local partner and build the made-in-China ships together.