BW LPG Limited (“BW LPG”), the world’s leading owner and operator of LPG vessels, announced that it has signed a contract for the construction of eight 90’cbm Panamax Very Large Gas Carriers (VLGCs), for a total consideration of about US$940 million, subject to the final technical specifications. The newbuildings are expected to be delivered sequentially from the start of 2029 until the second quarter of 2030.
“This newbuilding series underpins our ongoing fleet renewal program, supported by strong long-term fundamentals in the LPG market. Furthermore, these Panamax newbuildings represent the most flexible design, enhancing our scale, commercial and operational flexibility,” says BW LPG’s CEO Kristian Sørensen.
Including the eight newly disclosed new vessels, HD Hyundai Heavy Industries has unveiled 18 VLGCs this year. The remaining 10 vessels are from Greek TMS Cardiff Gas, South Korean KSS Shipping, Dubai energy trader BGN, and Turkish Aygaz, with order quantities of 2, 3, 4, and 1 vessels respectively.
BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of about 50 Very Large Gas Carriers (VLGCs), including over 20 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 400 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment.