Government News
China's SPDB Financial Leasing delivers very large Ethane Carrier Vessel to Shandong Marine 2025-05-28
SPDB Financial Leasing Co., Ltd, a subsidiary of Chinese lender SPDB, has named a Very Large Ethane Carrier (VLEC) in Jiangnan Shipyard. The vessel will be delivered to Pacific Gas (Hong Kong) Holdings Limited which is a subsidiary of Shandong Marine Group in June.
Built by China State Shipbuilding Corporation's subsidiary Jiangnan Shipyard, the VLEC was officially named as Pacific Ineos Sela at a naming ceremony held on May 23, according to SPDB Financial Leasing.
SPDB Financial Leasing and Shandong Marine Group have collaborated on several large-scale tanker and gas carrier leasing projects, with the former providing integrated leasing, supply chain, and cross-border financial services.
"Pacific Ineos Sela is equipped with a dual-fuel propulsion system and an intelligent cargo management system, fully complying with the International Maritime Organization's Tier III environmental standards," Liu Bingyan, vice president of SPDB Financial Leasing, said during the ceremony.
With a single-load capacity of 99,000 cubic meters and a cruising speed of 19 knots, the Pacific Ineos Sela achieves low-carbon emissions and reduces energy consumption costs by 30 percent through smart operations, Liu noted.
SPDB Financial Leasing will leverage this collaboration to further partner with CSSC in developing internationally competitive high-end vessels, Liu pointed out.
Moreover, SPDB Financial Leasing aims to enhance its global supply chain finance capabilities by taking advantage of the policies in Pudong New Area, which is home to the China Shanghai Pilot Free Trade Zone, and cross-border financial services of its parent firm SPDB, Liu added.
SPDB Financial Leasing has commissioned 17 vessels to Jiangnan Shipyard and its affiliate company Waigaoqiao Shipbuilding since 2018, including gas carriers , container vessels and bulk carriers etc.
Shandong Marine's ocean transport operations, including vessels under construction, exceed 14 million deadweight tons, with its ethane transport capacity topping the world. Key clients for the firm’s ethane shipping services include Chinese and overseas chemicals giants, such as Wanhua Chemical Group and Ineos Group.
Source: Yicai Global
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