Hyundai Heavy Industries (HHI) in South Korea has contracted Wärtsilä Gas Solutions to provide equipment for two new very large ethane carriers (VLECs). This deal highlights the continued investment in ethane transportation infrastructure and the growing demand for ethane as a feedstock in the petrochemical industry.
Market Impact
This deal signals continued growth in the ethane transportation sector. It benefits both Wärtsilä, by securing a significant contract, and HHI, by reinforcing its position as a leading shipbuilder. The expansion of VLEC capacity supports the increasing global trade of ethane and the development of ethane-based petrochemical facilities.
Why This Matters for Cyprus
This matters to industry professionals because it indicates ongoing investment in ethane infrastructure, reflecting the growing importance of ethane as a petrochemical feedstock and the increasing global trade of this commodity.