Exmar and Seapeak place order for two LPG carriers in South Korea

Exmar LPG, a joint venture consisting of Exmar and Seapeak, has ordered two midsize gas carriers from South Korea’s Hyundai Mipo.

According to a statement by Belgium’s Exmar, the 46,000 cbm dual-fuel LPG vessels would be “trendsetting” in the midsize gas carriers segment.

Exmar did not reveal the price tag of the deal.

The firm expects delivery of the first vessel to take place in in the fourth quarter of 2024, followed by the second ship in the first quarter of 2025.

Furthermore, the JV has the option on two additional vessels of 46,000 cbm for delivery in 2025.

These ships have the option to be delivered with ammonia dual-fuel propulsion, Exmar said.

Last year, Exmar took delivery of two dual-fueled very large gas carriers from China’s Jiangnan Shipyard.

The company currently owns/operates 19 midsize gas carriers, three VLGCs, and 10 pressurized vessels.

It recently sold its Tango FLNG unit to Eni, while the company’s small Eeemshaven LNG FSRU will soon start serving Gasunie’s terminal in the Netherlands.

On the other side, Teekay LNG Partners rebranded as Seapeak earlier this year following the completion of its $6.2 billion merger deal with private equity firm Stonepeak Infrastructure Partners.

The shipping firm has interests in 47 LNG carriers and is one of the world’s largest operators of such vessels. It also operates 20 midsize LPG carriers and seven multigas carriers.

Most Popular

Venture Global’s Plaquemines LNG wraps up $4 billion notes offering

Venture Global's unit Plaquemines LNG has closed a $4 billion offering of senior secured notes.

Argentina’s Enarsa to spend $567 million on LNG purchases

Argentina's state-owned LNG importer, Energia Argentina (Enarsa), will spend $570 million to purchase 22 liquefied natural gas (LNG) cargoes from BP and TotalEnergies this year.

Shell’s LNG Canada to ship second cargo

Shell-led LNG Canada is expected to soon ship the second cargo of liquefied natural gas from the Kitimat facility on the west coast of Canada, according to shipping data.

More News Like This

HD Hyundai Mipo clinches order for LNG bunkering duo

South Korea’s HD Hyundai Mipo has won a new order to build two liquefied natural gas (LNG) bunkering vessels.

Saverys now owns 94.36 percent stake in Belgium’s Exmar

Nicolas Saverys and his family now hold 94.36 percent of Exmar shares following another attempt to take the Belgian gas shipping firm private.

Saverys fails in new attempt to take Exmar private

Saverex, the holding company of the family of Nicolas Saverys, has again failed to take Belgian gas shipping firm Exmar private. Saverex also decided to reopen the bid for a second acceptance period.

BP exercises option to terminate charter deal for Seapeak LNG carrier

A unit of UK-based energy giant BP has exercised its option to terminate the existing charter deal for one of Seapeak's liquefied natural gas (LNG) carriers.