BGN International, an energy trader based in Dubai, has returned to HD Hyundai Heavy Industries in South Korea for four new VLGC tankers. With this new contract, the total number of orders from this company at this yard this year has increased to ten tankers.
Details of the New Contract
The recent contract includes four dual-fuel tankers with a capacity of 93,000 cubic meters of LPG, with delivery scheduled for January 2030. BGN has stated that this agreement was signed at an official ceremony in Istanbul. Financial details of the contract have not been disclosed.
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Expansion of Gas Transportation Capacity
The new tankers will be capable of operating with LPG and conventional marine fuels, which will help increase the gas transportation capacity of this trader. This move is part of BGN's strategy to increase control over its cargo transportation. This order follows two previous rounds of contracts at HD Hyundai this year. In April, BGN signed a contract for four 90,000 cubic meter VLGCs and then in June ordered two more tankers with a capacity of 93,000 cubic meters.
Development of BGN's Fleet
The June contract has brought the group's VLGC fleet, including the new tankers, to 19 vessels. These four new tankers further expand BGN's development plan. Tor Turt, BGN's shipping manager, has stated that the company is accelerating its investment in its fleet to support its growing energy trade.
The new VLGC contract expands BGN's relationship with HD Hyundai, making this yard a key base for BGN's fleet development program.
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