Following the completion of a large-scale newbuilding program, Turkish shipowner PascoGas continues to expand its fleet by acquiring secondhand vessels. The company has become the new owner of the 35,223 cubic meter “Antwerpen”, built in 2005, which is now renamed “Pasco Duja”.
Shipbrokers revealed recently that the vessel Antwerpen, built by a South Korean shipyard, has been sold for over 20 million US dollars.
According to PascoGas’s official website, the company now operates eight LPG carriers, ranging in size from 34,500 cubic meters to 59,000 cubic meters.
Additionally, PascoGas is advancing plans for the construction of five new vessels, including medium gas carriers (MGCs) and very large gas carriers (VLGCs)/very large ammonia carriers (VLACs), all being built at shipyards in South Korea.
Veson Nautical data indicates that prices for liquefied gas carriers have recently diverged.
In September, the resale price of medium-sized gas carriers fell by as much as 10.0%, with the most significant drop seen in 15-year-old vessels. Conversely, VLGC prices rose by as much as 3.6%, while 15-year-old vessels saw a slight decrease of 0.4%.
Veson Nautical data indicates that 140 gas carriers were traded between January and September 2025, compared to 222 during the same period in 2024 and 147 during the same period in 2023.
Xclusiv Shipbroking’s latest monthly report indicates that as of the end of September, the medium-sized liquefied gas carrier fleet comprised 143 vessels, with the majority being less than 10 years old. Current orders represent 45.8% of the active fleet’s total capacity.