Tag: LPG carriers

The international dry cargo and tanker markets are immense and are served by numerous ships of several types and of various sizes.

Amid an ongoing trade war between China and the US, as well as major geopolitical tensions globally, it is likely that total ordering activity will be softer near term, representing a downside risk to the positive development of newbuilding prices, according to VesselsValue. 

Martin Ackermann, CEO of BW LPG confirmed that the company's LPG carrier 'BW Helios' arrived at a recycling facility in India on January 21, as the company aspires to be compliant with the Hong Kong Convention. The yard was fully inspected and certified by an International Class Society in Mar 2017, meeting the requirements of IMO Resolution 210/63, 2012 guidelines for the safe and environmentally sound recycling of ships, as per the Hong Kong Convention.

K Line’s large gas carrier 'Grace River' has carried and discharged Ichthys LNG Project’s first LPG cargo carried to Japan, according to the company's statement. The cargo was imported by Astomos Energy Corporation at Kyushu L.P.G. Fukushima Terminal, on January 23.

Containers and LPG tankers are expected to be the market winners for the coming year, although the overall outlook for shipping asset prices remains bright, VesselsValue said in its latest forecast on shipping market for Q1 2019 to Q1 2020.

Among the different size categories of LPG ships, the small vessel segment is expected to be the best performer in 2018, while handysize vessels will be the worst, according to global shipping consultancy Drewry. Fleet growth will be the main catalyst for their freight rate outlook.

Teekay LNG Partners launched the Teekay Multigas Pool, an in-house commercial management solution for ethylene-capable liquefied petroleum gas and small-scale LNG vessels.

LPGreen, a joint development project between four leaders in the maritime industry, has been working on a concept design for an LPG carrier capable of operating on LPG fuel. Almost a year into the project, the partners agree the results to date have been good.

BW LPG Limited and Global United Shipping India Private Limited have agreed to establish a joint venture in India  under the name 'BW Global United LPG India' in which the parties will own 50% each. The new joint venture will own and operate Gas Carriers for the transportation of LPG within Indian waters.

DNV GL presented Hyundai Mipo Dockyard, with an approval certificate, for a new double side hull LPG carrier design – LPG SAFE, which is the first LPG carrier design to provide the safety benefit of a double side hull, while offering the same cargo carrying capacity and the same construction cost as a conventional design.