Union Maritime, a diversified shipping company based in the UK, is expanding its newbuilding program by reportedly placing its first order for Very Large Gas Carriers (VLGCs). Market sources and shipping data platforms indicate that the company, led by Laurent Cadji, has commissioned two VLGC/VLAC newbuildings from HD Hyundai Heavy Industries in South Korea. The total cost for these vessels is estimated at $234 million, with delivery expected in 2029.
This move signifies Union Maritime's entry into the gas carrier sector, broadening its existing fleet which typically includes tankers and dry bulk vessels. The investment in VLGCs suggests a strategic pivot or expansion into a new, potentially lucrative market segment.
For freight forwarders and supply chain analysts, this development indicates a future increase in global VLGC capacity, albeit several years out. While the immediate impact on rates or capacity is negligible, it signals long-term confidence in the LPG and ammonia shipping markets. Forwarders involved in energy logistics should note this as a potential future option for large-scale gas transport, contributing to overall market supply and potentially influencing future freight dynamics in the gas sector.
