Large Gas Carrier News

25 Feb 2020

KSS Line Orders 5th VLGC at HHI

Image: KSS Line

South Korean shipping company KSS Line placed an order for the construction of a new class 84,000 cbm Very Large Gas Carrier (VLGC) at compatriot Hyundai Heavy Industries (HHI).According to a statement from the marine transportation business company, this is the fifth VLGC order at the yard. All five VLGCs are scheduled for delivery in 2021."In 2021, when five new VLGCs, including the new vessels, are delivered, sales are expected to exceed KRW 300 billion and continue to grow…

21 Feb 2020

Wärtsilä's LFSS Undergoes Engine Testing

Photo: Wärtsilä

Wärtsilä’s liquefied petroleum gas (LPG) Fuel Supply System (LFSS) has completed full scale testing with a full sized two-stroke marine engine burning LPG as fuel. This was the world’s first such testing protocol, according to Wärtsilä.It was initially decided to retrofit the Wärtsilä LFSS to four very large gas carrier (VLGC) vessels owned by Oslo-listed BW LPG. However, following the tests, in which the performance exceeded expectations, BW LPG decided to exercise their option to retrofit an additional four vessels, making a total of eight ships to benefit from this technology.

22 Nov 2019

Waterborne LPG Trade Reaches 28.2MT

Pic: BW LPG

Global waterborne LPG trade reached 28.2 million tons, 14.1% growth year over year, said Singapore-headquartered BW LPG.Global LPG trade continues to be driven by the U.S. waterborne LPG exports which grew to 10.5 million tons, up 21.8% year over year, said the  owner and operator of LPG vessels.Middle Eastern exports were down marginally by 0.6% year over year to 10.2 million tons. Exports from both Saudi Arabia and Iran fell; the decreased volumes were offset by increased exports from U.A.E and Qatar.In Q3, the increasing LPG export volumes were absorbed by Southeast Asia, Japan and Europe.

01 Nov 2019

VLGC Orderbook Stands at 13% of Global Fleet

The Very Large Gas Carrier (VLGC) order-book stands at approximately 13% of the current global fleet during third quarter of 2019, said Dorian LPG, the owner and operator of VLGCs.An additional 36 VLGCs, equivalent to approximately 3.0 million cbm of carrying capacity, are expected to be added to the global fleet by calendar year-end 2021. The average age of the global fleet is now approximately 9.4 years old.A continuation of the favorable commodity price environment, the ongoing increase in secular demand for LPG as a more environmentally friendly alternative to other forms of energy and forecast high levels of U.S. exports as evidenced…

23 Oct 2019

VLGC for Astomos Energy Named

Photo: NYK Group

A naming ceremony was held in Kumamoto Prefecture at the Ariake Shipyard of Japan Marine United Corporation for a new VLGC (very large gas carrier) that NYK will charter under a long-term contract to Astomos Energy Corporation,  pre-eminent liquefied petroleum gas (LPG) company.The ship was named “Lily Promenade” by Kazuhisa Otsuka, senior operating officer of Astomos Energy Corporation, and the ceremonial rope holding the vessel in place was cut by Mariko Kurokawa of Astomos.

18 Oct 2019

LR Grants Jiangnan AiP for VLGC Design

(Photo: Lloyd's Register)

Classification society Lloyd's Register has awarded Chinese shipbuilder Jiangnan Shipyard (Group) Co., Ltd with Approval in Principle (AiP) for its 91,000-cubic-meter very large gas carrier (VLGC).The design, named “Panda 91T”, includes an liquefied petroleum gas (LPG) dual-fueled main engine and relevant fuel gas system, as well as an optional air lubrication system and the Energy Efficiency Design Index (EEDI) is approximately 40% lower than the base value, improving the efficiency…

18 Sep 2019

ABS Issues AIP for Jiangnan for VLGC, VLEC Design

Left to Right: Jiangnan Chief of Global Technology Hu Keyi and ABS VP of Global Gas Patrick Jansenns. Photo: ABS

The class organization American Bureau of Shipping (ABS) has granted the approval in principle (AIP) for the LNG Jumbo, two next generation gas carrier designs from the Chinese Jiangnan Shipyard Group.ABS granted AIP for a 91,000m3 Very Large Gas Carrier (VLGC) Panda 91T design and for the “BrilliancE”, a new 99,000 m3 Type B Very Large Ethane Carrier (VLEC) Bluebonnet design.“ABS is proud to support the pioneering work of Jiangnan in the design and delivery of gas carriers. By awarding this AIP…

19 May 2019

VLGC Freight Rates Recover

Pic: BW LPG

The Very Large Gas Carrier (VLGC) freight rates started to recover towards the end of the first quarter as U.S. consumption reverted to seasonally lower levels pushing U.S. LPG prices down, widening the geographical LPG price arbitrage between the U.S. and the Far East.According to BW LPG, the owner and operator of liquid petroleum gas (LPG) vessels,  the recovery in VLGC freight rates was further strengthened by two occasions of fog and a temporary closure of the Houston Ship…

22 Apr 2019

Hyundai LNG Shipping Orders Newbuild

 Ka Sam-hyun, president of Hyundai Heavy Industries (left) and Lee KyuBong, president of Hyundai LNG Shipping(right). Photo: HLS CO., LTD.

South Korean shipowner Hyundai LNG Shipping (HLS) has placed an order for the construction of one very large gas carrier (VLGC) at compatriot shipyard Hyundai Heavy Industries (HHI).The South Korean owner of 10 LNG Carriers said in a press release that the 84,600 cbm gas carrier is scheduled for delivery in Q3 2020 for the employment of seven year (+ option) time charter with a global energy company.KyuBong Lee, CEO of HLS, said “We are very grateful to build meaningful relationship with a respectable charterer through long-term contract and to build the ship at the world best shipping yard.

31 Jan 2019

LGP-Fuelled ME-LGIP to Power Chinese VLGC

Rendering of the MAN B&W ME-LGIP engine, showing here a 6S50ME-LGIP type  (Photo: MAN Energy Solutions)

Further shipowners turning to LGP in advance of 2020 emissions deadlineJiangnan Shipyard, owned by China State Shipbuilding Corp (CSSC), has ordered an LPG-burning MAN B&W 6G60ME-LGIP engine in connection with the building of an 86,000-m3 VLGC (Very Large Gas Carrier) for Tianjin Southwest Maritime (TSM), the Chinese shipping company. Vessel delivery is scheduled for the second half of 2021 and includes an option for a second vessel.Bjarne Foldager – Senior Vice President, Head of Two-Stroke Business at MAN Energy Solutions – said: “With 2020 and the new IMO emissions fast approaching…

25 Nov 2018

KOTC Orders Three LPG Tankers from Hyundai

Pic: Kuwait Oil Tanker Co. (KOTC)

Kuwait Oil Tanker Co. (KOTC), a subsidiary of Kuwait Petroleum Corporation, has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Industries (HHI), the South Korean shipbuilding giant.According to the government's media outlet Kuwait New Agency (KUNA), the order for very large gas carrier (VLGC) is worth KD 64.8 million (around USD 213.3 million).KUNA quoted CEO of KOTC Sheikh Talal Al-Khaled Al-Sabah as saying that the VLGC-LPG gas tankers are part of a tanker-building contract signed with HHI…

19 Sep 2018

GE Shipping Adds VLGC Jag Vasant to its Fleet

Image: GE Shipping

The Great Eastern Shipping Company Limited (G E Shipping) took delivery of secondhand Very Large Gas Carrier "Jag Vasant" of about 83,270 cbm. The company had contracted to buy the vessel in Q2 FY19.The Company's current fleet stands at 49 vessels, comprising 35 tankers (12 crude carriers, 17 product tankers, 6 LPG carrier) and 14 dry bulk carriers (1 Capesize, 8 Kamsarmax, 5 Supramax) with an average age of 10.90 years aggregating 3.98 mn dwt.The Great Eastern Shipping Company Limited is India's largest private sector shipping company which mainly transports liquid…

19 Sep 2018

LR Grants AiP for LPG-fueled Gas Carrier

David Barrow, LR Commercial Director – Marine & Offshore presenting the AiP to Kisun Chung, Deputy COO in Group Ship/Offshore Marketing of HHI and CEO in Hyundai Global Service at Gastech (Photo: LR)

South Korean shipbuilder Hyundai Heavy Industries (HHI) has received Approval in Principle (AiP) from Lloyd's Register (LR) for a very large gas carrier (VLGC) design capable of using liquefied petroleum gas (LPG) as fuel.LPG presents advantages over marine diesel oil (MDO) and heavy fuel oil (HFO) when a VLGC is able to utilize the LPG cargo on board as a fuel. However, safety issues need to be thoroughly examined particularly in relation to potential leaks of LPG in a confined space and the implications for ventilation.

17 Apr 2018

Update: Ship Leaking Butane after Collision in Singapore

© DEDE ONEN / MarineTraffic.com

Singapore's Maritime and Port Authority (MPA) said it is investigating a collision between two tankers in Singapore waters on Tuesday that led to a leak of liquefied petroleum gas (LPG) from one of the ships.An estimated 1,796 tonnes of butane gas leaked from the LPG tanker involved but this posed no danger to shipping and measures had been taken by the ship's crew to stop the leak, MPA said in a statement."As liquefied butane has a high evaporation rate, MPA has assessed that any leaked butane would have been carried southward away from mainland Singapore…

17 Apr 2018

LPG, Fuel Tankers Collide off Singapore

© Kero / MarineTraffic.com

Two oil products tankers had collided off Singapore coast but the impact of the accident was not immediately clear, industry sources familiar with the matter said on Tuesday. The tankers were identified as Crystal Sunrise, chartered by Japanese liquefied petroleum gas (LPG) firm Gyxis, and Astro Saturn chartered by European trading house Trafigura. "We can confirm that the Astro Saturn is on TC (time charter) to Trafigura and is carrying fuel oil," said it's spokeswoman without elaborating further.

02 Apr 2018

GE Shipping to Buy Secondhand VLGC

Photo: The Great Eastern Shipping Co. Ltd

India's largest private sector shipping company which mainly transports liquid, gas and solid bulk products Great Eastern Shipping Company Limited (GE Shipping) signed a contract to buy a secondhand Very Large Gas Carrier (VLGC) of about 81,617 cbm. The 2007 built vessel is expected to join the Company’s fleet in Q1 FY19. This is the second gas carrier in less than a week as GE Shipping looks to tap the rising demand to import liquefied petroleum gas (LPG) in India. On March 26, GE Shipping  signed a contract to buy a secondhand Medium Gas Carrier (MGC) of about 36,567 cbm.

02 Mar 2018

EXMAR’s New VLGCs to Run on LPG

Two very large gas carrier (VLGC) newbuildings being constructed for Belgian owner EXMAR will be equipped with main engines that will use liquefied petroleum gas (LPG) as fuel.   Both vessels will be constructed by Hanjin Heavy Industries & Construction at its Subic Bay shipyard in the Philippines for delivery within the third quarter of 2020.   The MAN Diesel & Turbo engines will use part of the onboard LPG cargo for the vessels’ propulsion.   EXMAR has contracted the vessels to serve long-term commitments with Statoil ASA of Norway for worldwide LPG transportation.

04 Jan 2018

DryShips Adds Fourth VLGC

File Photo: DryShips Inc

DryShips, a diversified owner of ocean going cargo vessels, announced today that it has taken delivery of its fourth high specification very large gas carrier (VLGC) newbuilding. The VLGC will be employed under a fixed rate time charter with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips has now taken delivery of all of the 17 vessels it has  acquired since the beginning of 2017.

06 Nov 2017

DryShips Announces VLGC Time Charter

File Photo: DryShips Inc

DryShips, a diversified owner of ocean going cargo vessels, announced that, on November 5, 2017, its third Very Large Gas Carrier commenced its time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier…

30 Jun 2017

DryShips VLGC Commences Time Charter

DryShips Inc., an owner of ocean going cargo vessels, announced that on June 29, 2017, its first very large gas carrier (VLGC) commenced its time charter on a fixed rate with five years firm duration to an oil major.   The charterer has options to extend the firm employment period by up to three years.   DryShips said it expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods.

07 Sep 2017

Dryships Adds New VLGC

Image: DryShips Inc.

DryShips Inc, a diversified owner of ocean going cargo vessels, has announced that it has taken delivery of the previously announced high specifications second newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to $92.7 million including the optional periods.

12 Sep 2017

DryShips Commences 5 Year TC for Second VLGC

File Photo: DryShips Inc

DryShips, a diversified owner of ocean going cargo vessels, announced today that, its second Very Large Gas Carrier commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The Company expects a total gross backlog associated with this time charter of up to USD 92.7 million including the optional periods. Five days ago, DryShips announced that it has taken delivery of the previously announced high specifications second newbuilding VLGC.

31 Oct 2017

DryShips Adds Third VLGC

File Photo: DryShips Inc

DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced high specifications third newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. Since the beginning of this year, DryShips has taken delivery of 16 vessels and expects to take delivery of one more at the beginning of next year.

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