Dubai-based independent energy and commodities trading group BGN is expanding its liquefied petroleum gas (LPG) fleet capacity with the order for four new dual-fuel very large gas carriers (VLGCs) to be built in Korea.
HD Hyundai Heavy Industries (HD HHI) will construct the four VLGCs at its shipyard in Korea under a contract with BGN, with delivery scheduled by 2029.
The vessels are designed to run on both conventional fuels and lower-emissions alternatives, and are capable of carrying cleaner fuels such as ammonia. Each will have a cargo capacity of 90,000 cbm.
BGN Shipping Director Ozan Turgut said: “These technologically advanced dual-fuel LPG carriers are capable of operating on both traditional fuels and lower emissions alternatives. Equipped to meet the growing demand for cleaner fuels and with ammonia-carrying capabilities, they are designed to meet today’s stringent environmental standards. For BGN, this significant investment ensures long term commercial viability and again demonstrates our commitment to growing our business, while also contributing to industry-wide decarbonization efforts.”
This announcement came a few days after BGN had sealed a long-term liquefied natural gas (LNG) carrier (LNGC) charter with an affiliate of Capital Clean Energy Carriers (CCEC). The deal comprises a ten-year charter period, with the option to extend by six more years and marks BGN’s first long-term ownership of an LNG vessel.