Energy company BGN recently finalized an agreement with HD Hyundai Heavy Industries (HD HHI) for the construction of four new 93,000 cubic meter (cbm) LPG dual-fuel Very Large Gas Carriers (VLGCs). The contract was formally signed during a ceremony held in Istanbul. These vessels are slated to be built in South Korea, with an anticipated delivery date in January 2030.
Upon their integration into the fleet, this order will expand BGN's owned LPG VLGC fleet from 19 to 23 vessels. This latest investment contributes to a total of ten new dual-fuel VLGCs that BGN has contracted with HD HHI in 2026, following previous agreements for six 90,000 cbm vessels.
For freight forwarders and shippers, this expansion signifies a potential increase in capacity for LPG transportation in the long term. The adoption of dual-fuel technology also points towards a growing trend in the industry for more sustainable shipping options, which could influence future charter rates and bunker fuel choices. While the delivery is several years away, it indicates a strategic move by BGN to modernize and grow its fleet to meet future demand in the gas carrier market.