AMPTC returns to South Korean yard for VLGC duo

Arab Maritime Petroleum Transport Company (AMPTC) has returned to its shipbuilder of choice, Hyundai Heavy Industries (HHI), with an order for a pair of very large gas carriers.

Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company of Hyundai Heavy, revealed the order in a regulatory filing on Monday.

The ships will be delivered to the Kuwait-based owner by end-August 2026 in a deal worth nearly $206m at today’s exchange rate.

AMPTC booked four 114,000 dwt dual-fuelled LR2s at HHI in 2021 for delivery in 2024. The owner of 11 ships paid around $328m for the quartet, which was the first order in five years after ordering a pair of suezmaxes at the same shipyard. The company currently has two VLGCs in its fleet.