Topic
vlgc
Logistics Indian Oil to Acquire 50% Stake in VLGCs as US LPG Imports Surge
Indian Oil Corporation plans to acquire a 50% stake in very large gas carriers (VLGCs) as it prepares to increase LPG imports from the United States. The move responds to a sharp rise in US LPG purchases—volumes in June were 145% higher than February—while Middle Eastern supplies decline. The tender targets vessels of 80,000-93,500 cubic metres, with bids due September 7.
Logistics BW LPG Sells Former Avance Gas VLGC for $17m Gain, Returns to Newbuilding
BW LPG has agreed to sell the BW Levant, a 2015-built VLGC acquired in the $1.05bn Avance Gas takeover, for a net book gain of $17m and net cash proceeds of $38m. The sale comes as BW LPG returns to the newbuilding market with an eight-ship VLGC order at HD Hyundai Heavy Industries. The vessel will deliver to an undisclosed buyer by mid-November, with BW LPG continuing to trade it until handover.
Logistics CYH Shipping linked to up to six very large gas carriers at Jiangnan Shipyard
CYH Shipping has been linked to an order for up to six very large gas carriers (VLGCs) at Jiangnan Shipyard. The Hong Kong-based owner signed for four firm 90,000 cu m units with options for two more, scheduled for delivery in 2030. If confirmed, the order marks CYH's first major newbuilding move in the large gas carrier sector, following recent secondhand acquisitions.
Logistics BW LPG India Sells Vintage VLGC for $36M Gain as Secondhand Values Remain Strong
BW LPG India, a 52%-owned subsidiary of BW LPG, has sold the 2007-built VLGC BW Elm to an undisclosed buyer for net cash proceeds of about $64m, generating a net book gain of approximately $36m. The sale capitalizes on strong secondhand values and comes on the heels of an eight-vessel newbuilding order at HD Hyundai Heavy Industries. The transaction underscores a broader fleet renewal strategy as the company reshapes its presence in India.
Logistics Dorian LPG Orders $115M VLGC Newbuild, Sells Three Older Tankers as Rates Surge
New York-listed VLGC owner Dorian LPG has ordered one 90,000 cu m dual-fuel VLGC at HD Hyundai for about $115m, scheduled for July 2029 delivery, while selling three older VLGCs for combined proceeds of $256m. The fleet moves come as VLGC earnings surge, with the company fixing 99% of its available days for the quarter ending June 30 at over $68,000 per day and 34% of July days at over $100,000 per day.
Logistics BW LPG's $940m VLGC Order Signals Market Confidence
BW LPG has placed a $940 million order for eight VLGCs with HD Hyundai Heavy Industries, marking a strategic shift towards newbuilds. This move underscores BW LPG's confidence in the LPG market's long-term fundamentals.