Large Gas Carriers News

Greek shipowners have spent an unprecedented $18 billion on newbuild gas vessels since 2021 as companies diversify their portfolios away from traditional tanker, bulker and container asset classes according to new research by Veson Nautical's data intelligence arm VesselsValue.Approximately $13.8 billion of the figure has been spent on 59 liquefied natural gas (LNG) vessels, and approximately $4 billionn on 41 liquid petroleum gas (LPG) vessels, according to the new report, ‘Greek Speculative S&P Investments’.

BW LPG on Thursday announced it has agreed to acquire 12 very large gas carriers (VLGC) from Avance Gas in a cash and stock deal valued at more than $1 billion.The deal will see Avance Gas sell off the entirety of its VLGC fleet, including four 91,000-cubic-meter (cbm) vessels built in South Korea in 2022 and 2023 and eight 83,000-cbm vessels built in China in 2015, and grows BW LPG's owned and operated VLGC fleet from from 41 to 53.According to BW LPG, this fleet expansion comes…

Mitsui O.S.K. Lines (MOL) has signed a time charter contract for two liquefied petroleum gas (LPG) dual-fuel very large gas carriers (VLGCs) with a subsidiary of TotalEnergies, CSSA Chartering and Shipping Services (CSSA).MOL made the agreement through its subsidiary MOL Energia.The vessels will be built by Hyundai Samho Heavy Industries in South Korea and are scheduled for delivery in 2026.The overall length of vessels is 230 meters, with brad of 32.25 meters. Their cargo tank capacity is 88…

Pertamina International Shipping (PIS), a unit of Indonesian state energy company Pertamina, has welcomed two new very large gas carriers (VLGCs) to its fleet, named Pertamina Gas Caspia and Pertamina Gas Dahlia.The new vessels are specifically optimized for transporting vital commodities like liquefied petroleum gas (LPG), as well as other petrochemicals such as propylene and ammonia, intended for international trade routes.Both tankers measure 300 meters in length, with a capacity of 91,000m3.

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.

Pertamina International Shipping (PIS), a unit of Indonesian state energy company Pertamina, said on Wednesday it plans to add six new very large gas carriers (VLGC) in 2024 as it eyes fleet expansion focused on gas transport.The company this week launched two VLGCs, built by South Korea's Hyundai Samho Heavy Industries, and each vessel has a 91,000 cubic metres capacity, which PIS said is among the biggest in the world.The two vessels were designed to transport liquefied petroleum gas (LPG) as well as ammonia, PIS said in a statement."We plan to add six VLGCs in 2024, starting from the two VL

Swiss marine power company WinGD has signed a memorandum of understanding with KSS Line to explore X-DF-A engines for future newbuild projects. The companies will focus on 52cm- and 62cm-bore versions of the dual-fuel ammonia engines, suitable for midsize and very large gas carriers (VLGC). The scope of the cooperation will extend beyond engine technology, also focusing on the performance and maintenance solutions necessary for using alternative fuel. The partners will also explore…

Astomos Energy, the biggest LPG distributor and trader in Japan, has chosen Maersk Tankers as voyage manager for, initially, five very large gas carriers (VLGCs).The Maersk Tankers service includes day-to-day vessel operations, fuel optimisation and claims handling. It covers full post-fixture support from the time the vessel is fixed for a voyage, through its successful execution, to the closure of the voyage books.“We are honored to commence the partnership with Maersk Tankers, not only pursuing efficient operation but also environmental goals.

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.

Pertamina International Shipping, a unit of Indonesia's state energy firm, aims to invest up to $3 billion over the next five years to rejuvenate and expand its fleet, including investing in vessels to transport liquefied natural gas, an executive said. Pertamina International Shipping (PIS) operates more than 400 vessels, including three very large crude carriers (VLCC) and two very large gas carriers (VLGC). "We will invest big in replacing vessels," Wisnu Santoso, a director at PIS told reporters on Tuesday.

MAN Energy Solutions’ after-sales division, MAN PrimeServ, has announced the signing of a contract to retrofit two LPG carriers for Tianjin Southwest Maritime Ltd. – the Chinese liquefied-gas carrier operator. The COSCO Shipping Heavy Industry (Guangdong) yard will host the respective conversions of the individual MAN B&W 6G60ME-C engines aboard the ‘Gas Gemini’ and ‘Gas Aquarius’ to dual-fuel MAN B&W 6G60ME-LGIP units capable of running on LPG. The two vessels will be retrofitted in parallel, beginning May 30, 2023.PrimeServ will jointly carry out the work with CMS (CSSC Marine Service Co.

ADNOC Logistics & Services, UAE-based oil firm ADNOC's shipping and maritime logistics arm, said Thursday it would order three new liquefied natural gas (LNG) carriers. "ADNOC L&S is the region’s largest shipping and integrated logistics company and the state-of-the-art new-build vessels will bolster the company’s capacity as it responds to the growing global demand for LNG," ADNOC L&S said.The new-build LNG vessels, each with a capacity of 175,000m3, are significantly larger than the current ADNOC L&S fleet which have a capacity of 137,000m3 each.

ADNOC Logistics & Services, the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC), has ordered two newbuild 175,000 cubic meter LNG carriers that will join its fleet in 2025. "The new LNG vessels will be crucial enablers of ADNOC’s 2030 growth strategy, supporting its existing LNG business as well as its ambitions to grow its liquefied natural gas (LNG) production capacity. They will be built at the Jiangnan Shipyard in China," ADNOC L&S said.Captain Abdulkareem Al Masabi…

Alfa Laval reports it is experiencing increased demand for solutions related to liquefied petroleum gas (LPG) as fuel, having seen notable orders for the Alfa Laval FCM LPG in recent months as the marine industry focuses on decarbonization. The low-flashpoint fuel supply system (LFSS) that can work seamlessly with LPG cargo handling systems.Given its lower CO2 footprint compared to traditional marine fuels, LPG is a logical step in decarbonizing the vessels that transport it, Alfa Laval said.

Vopak Moda Houston, LLC announced that its marine terminal in the Port of Houston is fully operational. Formed in 2016, Vopak Moda Houston is a joint venture between Royal Vopak and Moda Midstream. Located in Houston’s refining and petrochemical corridor and in close proximity to multiple ammonia, hydrogen and nitrogen pipelines, Vopak Moda Houston is the first greenfield terminal development in the Port of Houston in more than a decade.Designed to handle very large gas carriers (VLGC)…

Classification society Bureau Veritas said it has issued novel design approval for what will be the world’s largest very large gas carriers (VLGC).The new 93,000-cubic-meter (CBM) capacity Panda 93P VLGC design has been developed by Jiangnan Shipyard, part of the CSSC Group (China State Shipbuilding Corporation), as an evolution of of the shipyard’s Panda gas carrier series, featuring optimized hull-form to allow increased cargo capacity without significant increases in fuel consumption.

Bureau Veritas (BV) has delivered an approval in principle (AIP) to Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) for its innovative design and development of an ammonia carrier with ammonia-fueled propulsion.Ammonia, which continues to gain interest as a marine fuel worldwide, is one of the main alternative fuel options currently considered by shipping for net zero operations, in line with the targets set up by the International…

Kongsberg Digital announced that Dorian LPG (DK) ApS, a subsidiary of Dorian LPG Ltd., owner and operator of very large gas carriers (VLGC), has contracted to install Vessel Insight to its entire fleet of 22 liquefied petroleum gas (LPG) carriers. The agreement is expected to commence operation in the upcoming months.By installing Vessel Insight, Dorian is consolidating collection of all critical data from its entire VLGC fleet into one common infrastructure. The company aims to gain insight into signals coming from the fleet’s assets and enable realization of data-driven operations.

Abu Dhabi National Oil Company (ADNOC) revealed Thursday that its shipping arm ADNOC Logistics & Services (ADNOC L&S) has added six very large crude carriers (VLCC) to its fleet as the UAE sate energy company expands production and moves further into trading.Two of the tankers were purchased from Norwegian owner Hunter Group in 2020, delivered in December and are already operating, and one was purchased this week and will be joining the UAE shipowner's fleet shortly. The other three ships (plus options) are newbuilds scheduled for delivery from South Korea's Daewoo Shipbuilding & Marine Engineering in 2022 and 2023."Given recent market conditions, we were able to purchase both existing and newbuild vessels at competitive prices," said Capt. Abdulkareem Al Masabi, CEO, ADNOC L&S.

Japanese shipping company NYK ordered its first liquefied petroleum gas (LPG) dual-fueled very large gas carriers (VLGCs), a pair of ships to be built at Kawasaki Heavy Industries’ Sakaide Works shipyard for delivery in 2022.According to NYK, the new VLGCs will comply not only with the SOx Global Cap regulations that were tightened from January 2020 but also with the EEDI phase 3 requirements.In addition, by equipping the ships with LPG tanks on deck, it will be possible to load LPG for fuel separately from the LPG cargo.

BW LPG announced it will retrofit three additional vessels to make them dual fuel capable, brining to 15 the number of its ships slated to be equipped for running on both fuel oil and liquefied petroleum gas (LPG).The Oslo-listed shipowner, part of the BW Group, announced in 2018 that it would initially equip four very large gas carriers (VLGC) with the novel propulsion solution. Later, two four-vessel options were confirmed with this new three-vessel option making a total of…

BW LPG has entered into memorandums of agreement (MOA) to sell two very large gas carriers (VLGC) BW Confidence and BW Cedar, the Singapore-based shipowner announced Monday.BW Confidence was built in 2006 and has a carrying capacity of 83,270 cubic meters. The sale is expected to generate approximately $36 million in liquidity and an expected net book gain of approximately $4 million. The sale and delivery of the vessel to its new owner is expected to be completed in the first quarter of 2021.BW Cedar was built in 2007 and has a carrying capacity of 82,260 cubic meters. The sale is expected to generate a net book gain of approximately $3 million.

Dry bulk shipping company Golden Ocean Group said Monday that Per Heiberg, Chief Financial Officer of Golden Ocean Management AS, had resigned.Heiberg has held the CFO since April 2016 and has worked for the company in various capacities since July 2005.Oslo-listed Golden Ocean, which owns or controls a fleet of 78 dry bulk carriers, has appointed Peder Simonsen as the new CFO of Golden Ocean Management AS. Simonsen was most recently the Chief Financial Officer and Interim Chief Executive Officer of Avance Gas AS, a company specializing in very large gas carriers.Before joining Avance Gas AS in 2014, he was First Vice President at Nordea Bank Norge ASA, where he worked with large shipping and offshore companies.