World News
BW LPG Orders Eight New VLGCs for $940 Million
Shipping company BW LPG has signed a contract with Hyundai Heavy Industries for the construction of eight 90,000 m3 panamax very large gas carriers (VLGCs).
The vessels are valued at about $940 million in total, subject to final technical specifications, and are scheduled for delivery from early 2029 through the second quarter of 2030, the firm said in a statement on its website on Saturday.
BW LPG said the order supports its ongoing fleet renewal programme and is backed by strong long-term fundamentals in the LPG market.
“This newbuilding series underpins our ongoing fleet renewal program, supported by strong long-term fundamentals in the LPG market, Kristian Sorensen, CEO of BW LPG, said.
“These Panamax newbuildings represent the most flexible design, enhancing our scale, commercial and operational flexibility.”
The company operates a fleet of 50 VLGCs, including 20 vessels powered by LPG dual-fuel engines.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 867.50 | 9.00 | 1297.00 | 26.00 |
| Rotterdam | 686.00 | 14.00 | 1391.00 | 17.50 |
| Houston | 730.00 | 9.00 | 1383.00 | 1.00 |
| Fujairah | 951.50 | 8.50 | 1663.50 | 30.50 |
| Global 20 Ports Average | 875.50 | 2.50 | 1542.00 | 1.00 |
| Global 4 Ports Average | 809.00 | 10.00 | 1433.50 | 19.00 |
| Global Average Bunker Price | 926.00 | 0.50 | 1593.50 | 10.00 |
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