Press Release; October 13, 2014 zoom Samsung Heavy Industries has ordered Wärtsilä gas handling systems for a set of six new 87,000 cm3 capacity very large ethane carriers (VLECs), being built at the Samsung Heavy Industries yard in South Korea, with an option for additional vessels within this series. The deliveries of the gas handling systems will commence in 2016.These vessels will be the biggest ethane carriers ever built, and represent a new generation of such vessels mainly transporting ethane as feed stock to the petrochemical industry. The transportation of ethane is a rapidly growing segment of the marine gas carrying business and it is anticipated that the global VLEC fleet will increase significantly during the coming years.The VLECs are being built for India’s Reliance Group. The group has businesses in the energy and materials value chain, including petrochemicals. The new vessels will carry ethane from American shale gas to India to be processed for making plastic. Delivery of the ships will commence at the end of 2016 and is scheduled to be completed in early 2017.Wärtsilä’s scope of supply represents a complete cargo handling package for each ship. This includes the process and arrangement engineering; the deck tank; all equipment related to the cargo handling; and a purpose-built reliquefaction plant to handle the C-ethane from the American shale gas.
Development Finance Company of Uganda Limited (DFCU.ug) listed on the Uganda Securities Exchange under the Banking sector has released it’s 2014 abridged results.For more information about Development Finance Company of Uganda Limited (DFCU.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Development Finance Company of Uganda Limited (DFCU.ug) company page on AfricanFinancials.Document: Development Finance Company of Uganda Limited (DFCU.ug) 2014 abridged results.Company ProfileDevelopment Finance Company of Uganda is a commercial bank offering products and services for the retail, commercial and corporate banking sectors in Uganda through its subsidiary, DFCU Bank Ltd. Its product offering ranges from savings and current accounts to investment, fixed and demand deposits and personal and corporate credit. The bank provides medium and long-term finance to the private sector; with a focus on the agricultural, construction, tourism and hospitality, education, manufacturing and transport sectors. In addition to standard commercial banking products and services, DFCU Bank offers lease and mortgage finance, foreign exchange trading and money market transfer services. The company has an extensive network of branches and ATMS located in the major towns and cities of Uganda. Development Finance Company of Uganda Limited was founded in 1964; it became a commercial bank in 2000 after taking over and renaming Gold Trust Bank. Development Finance Company of Uganda is listed on the Uganda Securities Exchange