BGN expands LPG fleet capacity with addition of four new VLGCs
- BGN signs contract with HD Hyundai Heavy Industries (HD HHI) for four new dual-fuel VLGCs
- Vessels to be built at HD HHI’s shipyard in Korea and to be delivered by 2029
- Deal expands BGN’s LPG fleet capacity and underpins strategic growth
BGN, the 6th-largest independent energy and commodities trading group, has signed a contract with HD Hyundai Heavy Industries (HD HHI) for the construction of four dual-fuel Very Large Gas Carriers (VLGCs), each with a cargo capacity of 90,000 cbm. The vessels will be built at HD HHI’s shipyard in Korea and are scheduled for delivery by 2029.
The order marks another step in BGN’s strategy to expand its LPG shipping capacity and further strengthens the company’s strategic growth. Designed to run on both conventional fuels and lower-emissions alternatives, the dual-fuel VLGC vessels are also capable of carrying cleaner fuels such as ammonia.
BGN already operates one of the largest shipping fleets in its sector, and this expansion will further strengthen its position in the LPG sector and wider global energy trading and logistics industry.
BGN Shipping Director Ozan Turgut said: “We are delighted to have signed a strategic partnership with Hyundai Heavy Industries (HHI) for construction and delivery of 4 new Very Large Gas Carriers (VLGCs), to add to BGN’s best-in-class shipping fleet - one of the largest in our sector. 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 longterm commercial viability and again demonstrates our commitment to growing our business, while also contributing to industry-wide decarbonization efforts.”
HD Hyundai Heavy Industries representative said: “As the world’s leading shipbuilder, we are pleased to have won this significant order to build 4 new dual-fuel LPG Very Large Gas Carriers for the BGN group. These state-of-the-art shipping vessels have a capacity of 90,000 cbm, and their advanced dual-fuel technologies enable them to operate on both traditional and cleaner fuels. We have a long relationship with BGN and are pleased that they have again chosen to partner with HD HHI in the delivery of these vessels as they continue to expand their global LPG fleet.”
This investment further reinforces BGN’s commitment to forming strategic partnerships which enable the business to sustainably scale its operations and achieve its global growth ambitions.
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