Western Energy Inc Transport has signed a newbuilding contract in South Korea to expand its fleet of medium-sized liquefied gas carriers.
Western Energy Inc Transport has placed an order with HD Hyundai Mipo for a 39,200 m³ liquefied petroleum gas (LPG) carrier, expected to be delivered in 2027, shipbuilding sources said.
It is understood that Western Energy Inc Transport currently owns a 36,000 m³ LPG carrier. The vessel was ordered at HD Hyundai Mipo nearly a decade ago and was reportedly delivered in 2018 at a cost of US$50 million.
A few days ago (May 2), HD Hyundai Mipo announced that it had signed a contract with an African shipping company to build two 45,000 m³ LPG carriers, which are expected to be delivered in the second half of 2027. The total value of the order is approximately US$161.8 million, and the cost of a single vessel is US$80.9 million.