Asia/Pacific News
IINO Lines Signs Time Charter Deal for LPG Dual-Fuel VLGC
Japanese firm IINO Kaiun Kaisha has signed a time charter contract with BGN for a 90,000 m3 LPG dual-fuel very large gas carrier (VLGC), with delivery scheduled for December 2029.
The vessel will be built by HD Hyundai Heavy Industries in South Korea and will become IINO Lines’ fourth LPG dual-fuel vessel, IINO said in a press release on Monday.
The new vessel is part of IINO Lines’ strategy to expand its large gas carrier business and grow its low-carbon fleet.
The company aims to make large gas carriers a core business from 2030 while working towards net-zero emissions by 2050.
LPG remains a niche alternative bunker fuel for now, being used almost exclusively in gas carriers.
The company had taken delivery of another LPG dual-fuel VLGC from South Korea in August.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| APAC Average | 1029.50 | 32.00 | 1478.50 | 13.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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