Over the next 30 months, the 1983-built 85,000 cbm VLGC at the Malaysian port of Pasir Gudang, just across from Singapore. The vessel is the world’s second largest VLGC and is supplying LPG directly to Titan’s petrochemicals plant located in the port vicinity. While the use of VLGCs in a storage role is not new, it has not been used in such a manner by a petrochemicals producer. Previously, storage vessels were used by LPG suppliers rather than end-users. The high cost of fuel could see many older very large gas carriers (VLGCs) get a second lease of life in a storage role as petrochemicals companies switch from naphtha to LPG for use in their cracking plants. This pioneering project may well pave the way for increasing demand for older VLGCs, which are usually sold for scrap once they reach the end of their trading lives. The vessel is helmed by Captain Chris Payton and carries a 32-strong crew.
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