ABGC DMCC, a joint venture (JV) between Abu Dhabi-based and ADX-listed Al Seer Marine and Dubai-based energy company BGN has on 14th September taken delivery of the very large gas carrier (VLGC) “North Gas”.
This move marks the second VLGC delivery under the AED 495 million deal made between Al Seer Marine and BGN, as the first VLGC “Lucky Gas” was already taken over by the JV on 21st June, as reported by Shipping Telegraph on 27th June.
The “North Gas” has a cargo capacity of 84,326 cubic meters, and has been built by Hyundai Heavy Industries, in Ulsan, South Korea like the first VLGC “Lucky Gas” with LPG-fuelled propulsion machinery.
The “North Gas” is fixed on time charter to BGN International DMCC for a period of 10 years, as Al Seer Marine said in its statement.
Al Seer Marine mentions also, that it currently owns and commercially manages a fleet of 20 ships, which all have been purchased within the last 36 months, and that the “North Gas” represents one of five VLGCs to be delivered within the next three years.
“Liquid Petroleum Gas is assuming a growing significance in the global energy landscape. Our announced fleet expansion plan is on track as we welcome our second newbuild VLGC, and our foray into the maritime commercial shipping sector stands as a testament to the steadfast backing of our esteemed board members, shareholders,” said Guy Neivens, chief executive of Al Seer Marine.
