BGN builds up LPG-capable gas carrier fleet with four more ships

BGN, an energy and commodities trading firm, has placed orders for four new 93,000-cbm LPG-capable gas carriers from South Korean shipbuilder HD Hyundai Heavy Industries. These very large gas carriers (VLGCs) are set to enter service in January 2030 and can run on LPG or conventional marine fuel. The addition of these ships brings BGN's owned VLGC fleet to a total of 23 vessels once completed.

Currently, BGN owns and operates more than 40 vessels, including 10 dual-fuel VLGCs ordered from HD HHI since 2026. Earlier this year, BGN also placed orders for four 90,000-cbm dual-fuel VLGCs capable of running on conventional and lower-emission fuels, with delivery scheduled for 2029. Additionally, two 93,000-cbm LPG dual-fuel VLGCs were ordered in June, also due for delivery by 2029.

BGN has also entered into a long-term time charter agreement with Japanese tanker operator IINO Kaiun Kaisha for a 90,000-cbm LPG dual-fuel VLGC, which will be delivered by the end of 2029. This follows the delivery of Lyla Pathfinder, another LPG dual-fuel VLGC, to Japanese shipping company Nippon Yusen Kaisha in August. Other gas carrier owners have also taken notice, with BW LPG ordering eight 90,000-cbm LPG dual-fuel VLGCs from HD HHI for delivery between early 2029 and the second quarter of 2030, and Dorian LPG placing orders for three such vessels with Hanwha Ocean, due for delivery in 2030.

According to DNV data, there are currently 183 LPG dual-fuel vessels in operation worldwide, with another 165 on order through 2030.