IINO Lines rings the welcome bell to inaugural dual-fuel VLEC for INEOS charter

Japanese maritime transport player IINO Kaiun Kaisha (IINO Lines)has welcomed the first of two dual-fuel very large ethane carriers (VLECs), which will be chartered out to global manufacturing company INEOS Europe AG.

As disclosed, the vessel—named Iino Ineos Vestá—was handed over by South Korean shipbuilding major HD Hyundai Heavy Industries (HD HHI) on September 8.

The Liberia-flagged unit possesses an overall length of 229.97 meters, a beam of 36.63, and a 60,637 gross tonnage.

Given its dual-fuel propulsion system, the 99,000 cbm ethane carrier is anticipated to achieve a ‘much greater’ reduction in carbon dioxide (CO2) emissions than units powered by conventional heavy fuel oil.

INEOS Europe AG signed the agreement to charter the two VLECs, the second of which is scheduled for delivery next year, back in November 2022. The deal will reportedly bring the number of INEOS’ ethane fleet to 18 ships, which the company projects would be the ‘largest ethane fleet in the world.’

Simultaneously, this contract is said to be IINO’s first venture into very large ethane carriers.

As informed, under its mid-term sustainability-focused management