BGN returns to Hyundai shipyard to raise VLGC wager

BGN is increasing its wager on LPG/ammonia trades by signing up for two out of a series of about 15 very large gas carriers recently booked for construction at shipyards under the holdings of HD Korea Shipbuilding & Offshore Engineering.

Multiple brokers have linked the Dubai-based energy trader to a pair of 88,000 cu m VLGCs at HD Hyundai Heavy Industries in a deal worth around $236m.

BGN has been investing in newbuilds to support its trading business and help improve the emissions performance of the vessels it uses to move commodities. The company recently, in partnership with Pertamina International Shipping, strengthened its VLGC fleet with two LPG/ammonia newbuilds built by Hyundai Samho shipyard.

The company has yet to confirm the order for the latest LPG dual-fuel duo, slated for delivery from Ulsan in 2027.