A surge in orders for LPG carriers has pushed the global orderbook for gas carriers of all types to 338 vessels, according to leading shipping consultant BRL
BRL reported 46 LPG carriers had been ordered as of 11 May, increasing the global orderbook to 141 vessels with a total capacity of 7,292,845 m3.
South Korean shipbuilders have been the beneficiaries of a booming market for LPG carriers, snapping up 70% of the orders. As of 1 May, Clarkson Research reports 31 of 44 orders have been won this year by South Korean yards.
China’s Huangpu Wenchong signed a contract to build two 5,000-m3 LPG carriers for Tianjin Southwest Maritime, according to BRL Weekly Newbuilding Contracts. Both vessels will be delivered to their Chinese owner in June 2023.
One of the most active in the LPG carrier market has been Singapore’s Petredec. In March, it exercised options to build an additional three 93,000-m3 LPG carriers with dual-fuel LPG propulsion at China’s Jiangnan Shipyard. They are expected to deliver in June, August and September 2023. This follows on from an announcement in early November 2020 for an initial order of three vessels.
Wärtsilä is supplying the cargo handling and fuel gas supply systems for the vessels.
In the LNG market, South Korea’s Hyundai Samho Heavy Industries signed a contract to build a 174,000-m3 LNG carrier with an undisclosed European shipping company. Valued at US$189.5M, the contract calls for the LNG carrier to be delivered in October 2023, according to a company disclosure.
There are 177 LNG carriers currently on order with a total capacity of 26,412,82 m3. Twenty-three carriers have been ordered this year with an aggregate capacity of 2,908,434 m3.
Additional gas tonnage on order includes three floating storage and regasification units, 11 LPG ethane carriers, two LPG refrigerated carriers and four LPG/ethylene carriers.
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