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Future of LPG shipping hinges on North American weather

LPG exports are so dependent on the severity of winter in North America that all eyes are on the weather, as it hit demand for very large gas carriers (VLGCs) last year, according to the latest edition of the LPG Forecaster, published by shipping consultancy Drewry. Last year a shortage of propane in many areas of the US led to a steep price rise, closing the price differential between US exports and the rest of the world. This caused a large drop in export demand with many cargo cancellations. Demand for the first quarter in 2014 was 10% lower than that of the fourth quarter of 2013. “Although the use of LPG in residential heating in the US has been declining because of abundant natural gas, 14 million tonnes of LPG is consumed every year for domestic heating in addition to 2.2 million tonnes for crop drying,” said Shresth Sharma, Drewry’s LPG shipping practice analyst. This year export demand has recovered. The US exported 4.1 million tonnes of LPG during the third quarter (see graph above), up 28% on the same period last year, registering a record high of 1.5 million tonnes in July. Much of this is destined for ...

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BW LPG takes delivery of BW Aries VLGC

BW LPG Limited announced that it has taken delivery of BW Aries, the first of eight newly-built Very Large Gas Carriers (VLGCs) from Hyundai Heavy Industries (HHI). In a speech given at the shipnaming ceremony in Ulsan, Korea, Nicholas Gleeson, BW LPG’s CEO, spoke to the high quality of the vessel construction and oversight, and highlighted the importance of safety in the design and build processes.  “The completion of this vessel is a testament to a great many hours of exceptional teamwork”, he said.  BW Aries’ and her sister-ships’ designs incorporate modern solutions for improved safety, environmental performance, and fuel savings. Andrew Hoare, BW LPG’s Chief Commercial Officer stated, “The BW Aries is the first of the eight new buildings ordered with HHI and she joins our fleet to enhance our delivery to our customers. BW LPG is a committed industry player in the LPG sector and decisions about the addition of new vessels to the fleet are made based on a long term outlook.” BW Aries will join 19 other VLGCs in BW LPG’s fleet currently on water. The company now owns and operates a fleet of 36 vessels, comprising 20 owned VLGCs, 11 chartered-in VLGCs, five owned LGCs. ...

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Full Scrubber System Ordered For VLGC

Hamworthy Krystallon signs contract with HHI Hamworthy Krystallon, the leading marine scrubbing technology manufacturer, signed a significant contract with Hyundai Heavy Industries (HHI), the worldʼs biggest shipyard. The contract will see Hamworthy Krystallon deliver a scrubber system on a Liquified Petroleum Gas tanker being constructed for Solvang ASA. The 84.000 cubic meter (cbm) VLGC will have the worldʼs first full vessel scrubber system.The newbuild vessel will be fitted with two scrubbers; one for the main engine and one combined scrubber for three auxiliary engines. The scrubbers and washwater treatment will be situated in the funnel, in a modular design. This concept can readily be applied to similar vessels such as tankers, demonstrating that seawater scrubbers can help ship owners comply with upcoming regulations, irrespective of vessel type and size.It is the first commercial contract for a full vessel system, allowing the vessel to operate whilst burning only heavy fuel oil. The newbuild vessel has been designed to take into account all aspects of energy efficiency and environmental performance, using Solvangʼs and HHIʼs extensive experience. The drive for energy efficiency will also see the vessel fitted with a next generation Hamworthy Cargo Handling system, which will ensure lower energy consumption and ...

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