Dubai-based energy trader BGN announced that it has signed a contract with HD Hyundai Heavy Industries for the construction of four 93,000 m³ liquefied petroleum gas (LPG) dual-fuel very large gas carriers (VLGCs), which are expected to be delivered in January 2030. According to market reports, the construction cost per vessel is approximately $116.7 million; based on this figure, the total cost for the four new vessels is approximately $466.8 million.
This batch of new vessels marks a significant step in BGN’s strategy to expand its LPG shipping capacity and strengthen the maritime infrastructure that supports its global trading operations. Equipped with dual-fuel propulsion systems capable of running on both LPG and conventional marine fuels, these vessels enhance operational efficiency while simultaneously achieving energy savings and emissions reductions.
This order marks a continuation of the long-standing partnership between BGN and HD Hyundai Heavy Industries. With these latest four vessels, the two parties have contracted a total of 10 Very Large Gas Carriers (VLGCs) this year—comprising four 90,000 m³ VLGCs (announced in April 2026) and six 93,000 m³ VLGCs (announced in June and October, with two and four vessels respectively). The total value of these orders exceeds $1.16 billion, with deliveries scheduled to begin in 2029.
BGN stated that the latest shipbuilding project further underscores the company’s commitment to investing in advanced shipping assets and forging strategic partnerships—initiatives designed to expand its business, strengthen global energy supply chains, and pursue sustainable, long-term growth.