Seaspan Poised to Enter Ethane Carrier Business

Wedoany.com Report-Nov. 30, Seaspan Corporation has signed a memorandum of cooperation with Cosco Shipping LNG, CSSC Trading, and Jiangnan Shipyard to develop up to six 100,000-cubic-metre very large ethane carriers (VLECs). The agreement covers three firm vessels plus three optional units, with each ship priced at approximately US$149 million.

The newbuildings, to be constructed at Jiangnan Shipyard under China State Shipbuilding Corporation (CSSC), are expected to be placed on long-term charter with a major Chinese state-owned oil company. Delivery schedules have not yet been disclosed.

The project marks Seaspan’s first move into the VLEC segment and represents a significant expansion beyond its core containership business. Led by Chairman Bing Chen, Seaspan currently owns and operates the world’s largest independent containership fleet, comprising more than 180 vessels in service and over 50 newbuildings on order.

The VLEC initiative builds on Seaspan’s strengthening relationship with CSSC yards, which have recently secured multiple containership contracts from the company, including a 12-vessel series of 9,000-teu ships ordered in August 2025.

For Jiangnan Shipyard, the contract further solidifies its position in the large ethane carrier construction, following its earlier deliveries of some of the world’s biggest VLECs, including vessels featuring advanced IMO Type-B tank designs.

Seaspan has been actively diversifying its portfolio since late 2023, when it entered the pure car and truck carrier (PCTC) market through a joint venture with Hyundai Glovis. The addition of VLECs aligns with growing global demand for ethane transportation, driven by expanding petrochemical and energy storage projects, particularly in China.

The collaboration supports continued growth in maritime transport capacity for alternative energy feedstocks while leveraging established shipbuilding expertise and long-term charter arrangements.