Logistics, part of the BGN group, to scale up its presence in the liquefied petroleum gas (LPG) shipping market. The companies have established a new Singapore-registered entity, HMMB INT Shipping, which will debut with two very large gas carriers (VLGCs) of 88,000 cu m capacity each. The vessels are being built by HD Hyundai and are scheduled for delivery in 2027.
The move marks another step in HMM’s renewed push into the gas transportation sector. After operating five LPG carriers in the past, the Korean shipping line exited the business in 2016 but returned this year with the acquisition of three mid-sized LPG carriers. The company has outlined an ambitious plan to grow its LPG and ammonia fleet to about 20 ships by the end of the decade.
For its part, BGN brings significant scale and market expertise to the partnership. The group moves roughly 14 million tonnes of LPG annually and controls a fleet of more than 40 LPG carriers, positioning the venture to tap expanding global demand for gas shipping.
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