Plastics News by Plasteurope.com

EVERGAS: Danish group to step back from ethylene shipping / Ineos' partner to focus on ethane and LNG

After five years without profit, gas shipping specialist Evergas (Copenhagen / Denmark; www.evergas.net) is giving up on its ethylene business. In 2013 and 2014, the company acquired a fleet of eight gas carriers for the relatively complex shipping of liquefied ethylene. It now looks like the business never got out off the ground. According to international trade media, the ships are said to have been sold to Unigas, a consortium of three competitors.

Evergas wants to instead focus on transporting liquefied natural gas (LNG) and ethane. The chemical and plastics group Ineos (Rolle / Switzerland; www.ineos.com) contracted the Danish company in 2013 for 15 years for ethane shipments between the US and Europe see Plasteurope.com of 25.01.2013. Evergas was also expected to ship US ethane to China for Ineos Trading and Shipping in an agreement the Swiss company made at the end of 2017 see Plasteurope.com of 12.12.2017.

More news on Plasteurope.com...