As confirmed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) in a stock exchange filing, two ethane carriers are set to be constructed at the shipyard in Ulsan. The deal, valued at KRW 458.8 billion (approximately $312 million), was finalized in late February 2025.
According to MISC, once completed, the Very Large Ethane Carriers (VLECs) with a 100,000 cbm capacity are expected to rank “among the largest of their kind in the world.”
The newbuilds are scheduled for delivery by the end of 2028. Upon handover, MISC announced that the units will be chartered on a long-term basis to Thai state-owned oil and gas company PTT Public Company Limited (PTT).
PTT intends to use the gas carriers for transporting ethane from export facilities in the United States to Thailand, and the VLECs are also capable of carrying ethylene and liquefied petroleum gas (LPG).
Equipped with dual-fuel ethane propulsion engines, the vessels are expected to significantly reduce greenhouse gas (GHG) emissions while complying with the International Maritime Organization’s (IMO) Tier III nitrogen oxide (NOx) regulations.
Additionally, the vessels will be outfitted with shaft generator technology that harnesses power from the main engine for onboard use, which is expected to greatly reduce fuel consumption and emissions.
As the maritime industry moves toward net-zero emissions, MISC Berhad has been actively making strides to keep pace. Last year, the company ordered the world’s first ammonia dual-fuel Aframax tankers.
The units were ordered via MISC’s petroleum arm, AET, in April 2024 from Dalian Shipbuilding Industry (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC). The tankers will be chartered to Petco Trading Labuan Company (PTLCL), a midstream services arm of Petronas.
In May 2024, it was confirmed that Swiss marine engine developer WinGD would supply its X‑DF‑A ammonia-fueled engines for the Aframaxes.
This order builds on a previous collaboration between WinGD and AET from July 2023, when the two parties worked together to enable clean-energy ship operations. The partnership also includes technology development and crew training in collaboration with ALAM, operated by MISC’s Malaysian Maritime Academy, in preparation for ammonia-fueled vessels entering service in the near future.