Al Seer Marine announced the takeover of its first very large gas carrier (VLGC), named Lucky Gas.
The 86,000 CBM Class DF LPGC was delivered by Hyundai Heavy Industries (HHI) in Korea and is employed on a 10-year charter with BGN International DMCC.
The acquisition of the VLGC formed part of the AED 495 million transactions signed in 2021 by ABGC DMCC, the joint venture between Al Seer Marine and BGN International.
A second VLGC, North Gas, will be delivered in September this year as part of the transaction.
Guy Neivens, CEO of Al Seer Marine, said, “Giant Tanker markets are making waves and riding high on rising global demand. Our business vision is anchored in seizing opportunities that align with market conditions and deliver attractive returns.”
Both VLGC vessels acquired by the joint venture utilise LPG-fueled propulsion machinery, showcasing Al Seer Marine commitment to reducing carbon emissions and fostering sustainable growth within our industry.
Young-Rok Cho, HHI, said the successful delivery of Lucky Gas marked another significant milestone for Hyundai Heavy Industries, underscoring its adaptability to the dynamic market conditions of the VLGC sector.
“The tremendous global demand for VLGCs is experiencing remarkable growth, propelled by the ongoing global energy demand and the ever tightening decarbonisation regulations. In response to these challenges, we are resolutely committed to delivering LPG-fueled vessels akin to Lucky Gas, championing sustainability within our industry and offering indispensable support to our clients’ ambitious growth plans,” Cho said.
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