BW LPG has ordered eight new Panamax VLGCs from Hyundai Heavy Industries. The order is worth around $940 million and deliveries are scheduled from the beginning of 2029.
The tanker shipping company BW LPG is renewing its fleet with another newbuild series. The Singapore-based company has signed a contract with Hyundai Heavy Industries for the construction of eight 90,000 m³ Panamax VLGCs (Very Large Gas Carriers). According to the company, the total volume is around $940 million, subject to final technical specifications.
The newbuildings are to be delivered in stages from the beginning of 2029 until the second quarter of 2030. BW LPG describes the order as part of its ongoing fleet renewal program.
“This newbuild series supports our ongoing fleet renewal program, which is underpinned by strong long-term fundamentals in the LPG market,” emphasizes CEO Kristian Sørensen. The Panamax newbuilds stand for a particularly flexible design and strengthen economies of scale as well as the company’s commercial and operational flexibility.
BW LPG is one of the largest owners and operators of LPG tankers. According to the company, its fleet comprises around 50 VLGCs, including more than 20 ships with LPG dual-fuel propulsion. The company is part of the BW Group, which claims to control a fleet of more than 400 ships.
