Vlgc News

Mitsui O.S.K. Line (MOL) has taken delivery of the newly built dual-fuel LGP and ammonia very large gas carrier (VLGC) Aquamarine Progress II, which will sail under charter with a Japanese LPG importer and distributor.Ordered by MOL’s company Aramo Shipping (Singapore), the Aquamarine Progress II has been delivered by Namura Shipbuilding.The Aquamarine Progress II will sail under a time charter contract with GYXIS Corporation, a Japanese LPG importer and distributor.The vessel is 230 meters long, with the breadth of 36.6 meters.

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply the cargo handling systems for additional two new very large LPG carrier vessels to be built at the HD Hyundai Heavy Industries in South Korea.The ships have been contracted by Norwegian ship owner Solvang. The order follows a similar one placed in 2023 for five vessels being built at the same yard for the same owner.The very large gas carriers (VLGCs) are of Panamax size and form the next generation of eco-vessels.

The world's largest very large gas carrier (VLGC) has been unveiled in Shanghai ahead of its delivery to Singapore-based owner Petredec Global.The dual-fuel LPG vessel Harzand was designed and built by Jiangnan Shipyard and has a capacity of 93,000cbm. It is 230 meters long and 36.6 meters wide.Harzand is the first of six underway for Petredec. The order was signed in November 2020 and calls for the vessels to be fitted with MAN ES LGIP engines and a shaft generator to utilise…

United Arab Emirates' ADNOC Logistics & Services (ADNOC L&S) has expanded its fleet with the deployment of five new-build Very Large Gas Carriers (VLGC), state news agency WAM reported on Thursday.The carriers of the shipping and maritime logistics arm of state oil giant Abu Dhabi National Oil Company each have a capacity of 86,000 cubic metres. The carriers were built at Jiangnan Shipyard in Shanghai, China, and will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group (Wanhua), WAM added.

China Classification Society (CCS) has issued Approval in Principle (AIP) for the design of the world’s first low carbon very large gas carrier (VLGC). The concept design is based on an LPG dual fuel ship type with a carbon capture system onboard. Two Type C low-temperature carbon dioxide storage tanks are located on both sides of the open deck in the cargo area, and the designed carbon dioxide capture rate of the system can reach over 85%. CCS’s Shanghai Rules & Research Institute issued the AIP to Jiangnan Shipbuilding for the design which was developed jointly with No.

BW LPG said Thursday it had agreed to sell the 2006-built Very Large Gas Carrier (VLGC) BW Trader to an undisclosed buyer. The VLGC has a carrying capacity of 78,631 CBM. "The sale and delivery of the vessel to its new owner for further trading is expected to be completed by March 2022 and when completed, is expected to generate approximately $20 million in liquidity and a netbook gain of approximately  $2 million," Oslo-listed BW LPG said. Anders Onarheim, CEO of BW LPG said: "This sale is in line with our strategy of seeking to optimize our assets through the cycles and gives further strength to our balance sheet and liquidity position.”With this sale, BW LPG owns and operates a fleet of 39 modern VLGCs.

Singapore-based gas carrier operator BW LPG has sold Very Large Gas Carrier (VLGC) BW Empress.BW Empress was built in 2005 and has a carrying capacity of 77,330 CBM. "The sale has generated approximately US$ 40 million in liquidity and an expected net book gain of approximately US$ 10 million. The sale and delivery of the vessel to its new owner for further trading was completed on 15 April 2021," the Oslo-listed company said Friday.Anders Onarheim, CEO of BW LPG, said: "BW Empress was sold for an attractive price in a volatile market.

BW LPG's BW Gemini, the world’s first Very Large Gas Carrier (VLGC) to be retrofitted with LPG dual-fuel propulsion, completed loading at Enterprise Terminal in Houston Monday. BW LPG, part of BW Group, said Monday that the VLGC had completed its "historic" crossing of the Pacific Ocean on LPG propulsion on December 5."BW Gemini is carrying a record load of 49,000 metric tons of LPG on a single keel. As the vessel refueled while loading and no additional bunkering was needed, she has proceeded on her voyage.

BW LPG said the week-long sea and gas trials have kicked off for very large gas carrier (VLGC) BW Gemini, which has been retrofitted with pioneering liquefied petroleum gas (LPG) dual-fuel propulsion technology. The shipowner said the 2015-built BW Gemini achieved "a historic milestone" as the world’s first VLGC to be fueled by LPG, after its main engine was retrofitted from a MAN B&W 6G60ME-C9.2 type to a MAN B&W 6G60ME- LGIP dual-fuel type capable of operating on both LPG and traditional fuel oil."The retrofitting process at Yiu Lian Dockyard in Shenzhen…

World's largest gas shipping company BW LPG has exercised another option for the delivery and retrofitting of a further four dual-fuel LPG propulsion engines, committing to retrofit 12 of its VLGCs with LPG propulsion technology.The delivery and retrofitting of these 12 dual-fuel engines into BW LPG’s fleet will start as planned in 2020 and will be completed in the second half of 2021.The latest announcement follows BW LPG announcing back in August 2018 its initiative to deliver and retrofit four LPG dual-fuel engines in its VLGCs, and the exercising of an option on 10 February 2020 for an additional four dual-fuel engines.Anders Onarheim, BW LPG CEO said: “The Board and Management at BW LPG continue to emphasize a deep corporate commitment to sustainable development.

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," it said.The fifth VLGC new vessel is scheduled to enter into a long-term transportation contract with BGN Group, a European-based energy company, for seven years from the third quarter of 2021.The new 84,000 CBM-level VLGC can navigate through both the new and old Panama Canal.

Belgium-headquartered manager of specialized floating assets Exmar said that China Export Credit Insurance Corporation (Sinosure) approved the release of $40 million from the debt service reserve account under the TANGO FLNG loan facility.The documentation for the release of the restricted cash has been signed and the effective release will occur within the coming days.In the meantime the TANGO FLNG has exported its second cargo for YPF in December 2019 and the third cargo is being produced.Exmar has two Very Large Gas Carriers under construction at Jiangnan, due for delivery in the course of 2021.The two vessels will each enter a five…

Avance Gas Holding, a company engaged in the transportation of liquefied petroleum gas (LPG), has entered into shipbuilding contracts for two 91,000 cbm,  LPG dual-fuel very large gas carriers (VLGCs) with South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME).The Norwegean LPG shipping firm said that the vessels are are scheduled for delivery in Q4 2021 and Q1 2022.The transaction enhances the green profile of the Avance Gas fleet while increasing its competitiveness. The state of the art dual-fuel propulsion system will significantly lower fuel consumption, reduce fuel costs and reduce emissions compared to any VLGC on water.The outlook for the freight market is healthy, supported by continued strong US LPG exports and growing Asian demand.

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…

Belgium-based floating assets specialist Exmar said that it  has two newbuild 88,000 m³  Very Large Gas Carriers (VLGC) on order at Jiangnan Shipyard (China) which will use LPG as a fuel marking a new era for the Company and the industry.Both vessels are committed to a long-term charter with Equinor after delivery in 2021, said the provider of floating solutions for the operation, transportation and transformation of gas.Currently, Exmar controls one chartered vessel in this segment, the 83,300 m³ BW TOKYO that is chartered to Trafigura until the fourth quarter of 2019. The hire is determined by a mix of fixed freight elements as well as a straight link to the Baltic Gas Index.Meanwhile…

North American liquefied petroleum gas  (LPG) export capacity is forecast to grow considerably over the next two years, said Dorian LPG.According to the LPG shipping company, bolstered by additional volumes out of Marcus Hook in the northeast U.S. due to the startup of the Mariner East 2 pipeline, U.S. exports reached their highest levels for the first calendar quarter of 2019 in January with over 3 million metric tons of LPG exported during the month.However, significant reductions in U.S. exports were seen during the rest of the first calendar quarter of 2019 due to closure events in the Houston ship channel.Additionally, there was tightness in the East due to a reduction in Middle Eastern supply related to OPEC production cuts and U.S. sanctions on Iran.

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 Channel due to fire and chemical spills.For 2019 we are optimistic that average VLGC rates will improve from the 2018 average of US$17,300 per day to a level above our cash break-even levels.