LNG Cargo Ready Notation for Ethane Carriers

September 18, 2019

American Bureau of Shipping (ABS), the provider of classification, technical, and regulatory services for the marine industry, launched the industry’s first LNG Cargo Ready notation.

The development was announced at a joint event with GTT, highlighting progress towards delivering “LNG Cargo Ready” ethane carriers.

The ABS LNG Cargo Ready notation confirms that an ethane carrier is capable of future modification to trade LNG cargoes. ABS is the first classification society to develop requirements and notations for ethane carriers that assist in assessing the level of LNG cargo readiness.

The notation identifies potential barriers and assesses LNG capability of equipment and systems installed on the Very Large Ethane Carriers (VLEC).

“As a global leader in gas, ABS is working with innovative companies all over the world to advance the industry and deliver efficiencies for our clients,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.

“Our work to make the next generation of ethane carriers more flexible and better able to adapt to developments in the international markets,  underscores our focus on developing solutions that respond to the challenges faced by owners, charterers and operators while ushering in new concepts and fostering the latest technologies,” he added.

“We are continuously developing solutions for the industry in order to provide more flexibility to ship-owners and charterers, while remaining competitive without making any compromise on safety. We are glad to take this initiative with ABS by offering LNG cargo as an option for Ethane shippers and notably for one of our clients that recently ordered six second generation VLECs,” said Philippe Berterottière, Chairman and CEO of GTT.

“With the expected flurry of new orders for VLECs, the industry is looking for ways to de-risk project investments. One of the most viable options is to ensure newer VLECs can be used for transportation of LNG in the future. The ship owners and investors require the necessary information in evaluating the capital risk to assess the need for additional future investments needed to “upgrade” the asset to carry LNG instead of ethane,” said Aditya Aggarwal, ABS Director, Global Gas Development

ABS provides industry leadership, offering guidance in LNG floating structures and systems, gas fuel systems and equipment, gas carriers, and regulatory and statutory requirements.  ABS has extensive experience with the full scope of gas-related assets and has been the classification society of choice for some of the most advanced gas carriers in service.

“The LNG readiness for VLEC is a promising way to overcome financial hurdles that stakeholders are facing on the nascent Ethane shipping, and it is achievable at marginal cost,” said Adnan Ezzarhouni, General Manager of GTT China.

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