Al Seer Marine, Company orders two new VLGC’s from Hyundai Heavy Industries
ASM, a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), performed the steel cutting ceremony for its first Very Large Gas Carrier (VLGC), named Lucky Gas.
They formed a joint venture last year, named ABGC DMCC, with BGN International, one of the world’s leading energy, trading, storage and transportation companies, to build two new VLGC’s. It awarded the contract to Hyundai Heavy Industries in Korea.
This follows a projected boost in the VLGC segment with growing liquified petroleum gas (LPG) trade relationships between multiple regions, including the Middle East and Asia, Western Africa and Europe, and the United States.
This marks the first steel cutting for Lucky Gas, which is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022 and be completed and delivered by June 2023.
Both ships are sized at 86,000cbm capacity and the propulsion machinery of each ship will be LPG fueled, making them environmentally friendly with less emissions.
“The accelerating rise in demand for oil products and gas, in a tight energy market, has resulted in exploring fleet expansion initiatives to strategically access broader opportunities within commercial shipping,” commented Guy Neivens, CEO, Al Seer Marine.
The company aims to increase its fleet up to 20 ships and is analyzing expansion initiatives in product tankers, gas tankers, and dry bulk shipping sectors, with short-term plans of acquiring 10 to 15 ships in 2022.
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