Abu Dhabi based and ADX listed Al Seer Marine, a subsidiary of International Holding Company, has today announced the takeover of its first very large gas carrier (VLGC) named “Lucky Gas”.
The newbuilding is built by Hyundai Heavy Industries (HHI) in Korea, and is a 86,000 CBM Class DF LPGC vessel utilizing LPG-fueled propulsion machinery.
The “Lucky Gas” is employed on a 10-year charter with BGN International DMCC the company mention.
The VLGC newbuilding “Lucvky Gas” is forming part of an AED 495 million transaction signed in 2021 by ABGC DMCC, the joint venture between Al Seer Marine and BGN International. Al Seer Marine also inform that a second VLGC, “North Gas”, will be delivered in September this year as part of the same transaction.
Guy Neivens, CEO of Al Seer Marine, said that “Giant tanker markets are making waves and riding high on rising global demand. Our business vision is anchored in seizing opportunities that align with market conditions and deliver attractive returns. Today, we proudly mark the delivery of our inaugural VLGC, Lucky Gas, a testament to our ongoing investment efforts.”
Young-Rok Cho from HHI, also stated that “The successful delivery of Lucky Gas today marks another significant milestone for Hyundai Heavy Industries, underscoring our adaptability to the dynamic market conditions of the VLGC sector. The tremendous global demand for VLGCs is experiencing remarkable growth, propelled by the ongoing global energy demand and the ever-tightening decarbonization regulations. In response to these challenges, we are resolutely committed to delivering LPG-fueled vessels akin to Lucky Gas, championing sustainability within our industry and offering indispensable support to our clients’ ambitious growth plans.”