Splash247: BGN doubles down on LPG shipping with pair of HD Hyundai VLGCs

Published by Splash247

Energy trader BGN has returned to South Korea for another round of VLGC ordering, signing a contract with HD Hyundai Heavy Industries for two dual-fuel gas carriers that will take its owned LPG fleet to 19 vessels.

The latest order covers two 93,000 cu m very large gas carriers, with delivery scheduled in 2029.

The deal comes only weeks after BGN unveiled a contract for four dual-fuel 90,000 cu m VLGCs at the same shipyard, underlining the company’s determination to expand its shipping footprint in the LPG sector.

With the latest pair included, BGN has now committed to six VLGC newbuildings at HD Hyundai this year as it continues building one of the largest controlled fleets among independent energy and commodities trading houses.

The vessels will be capable of operating on both conventional fuels and lower-emission alternatives. In addition to LPG cargoes, they will also be capable of carrying ammonia, giving the company flexibility as demand for alternative fuels develops.

Ozan Turgut, shipping director at BGN, said the agreement builds on a long-standing relationship with the South Korean shipbuilder.

“We have a strong, long-term relationship with Hyundai Heavy Industries and are pleased to be again partnering with one of the world’s leading maritime and shipping companies,” Turgut said.

“In BGN, we have absolute confidence in the quality and capabilities of HD HHI’s technologically advanced dual-fuel LPG VLGCs and we’re pleased to be working with them to add two more vessels to our fast-growing fleet.”

The new order forms part of a broader strategy by BGN to expand its presence in transition fuels, particularly LPG and LNG, while increasing its control over freight capacity. The company currently operates an owned and chartered fleet of around 40 vessels across multiple shipping segments.