Ultragas betting on second-hand ships: "Right now it's the better choice"

New technologies and fuels make Ultragas refrain from ordering ships as part of a large-scale fleet renewal. The shipping company has therefore bought second-hand ships, CEO Martin Fruergaard tells ShippingWatch.

Martin Fruergaard is CEO of gas shipping company Ultragas. | Photo: PR/Ultragas

The green transition in the shipping sector, where new technologies and fuels are expected to gain ground, are a main theme for Ultragas in its approach to ways of renewing its fleet of gas vessels.

This process is soon coming to an end, after several older ships have just been sold. In terms of acquisitions, though, the company has been hesitant to tap yards in its efforts to reduce the average age of its fleet.

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