Pertamina and BGN team up for more very large gas carrier newbuilds

Indonesia’s Pertamina International Shipping (PIS) and Dubai-based multi-commodities trader BGN have once again partnered on a very large gas carrier newbuilding project in South Korea.

The duo has joined forces for a pair of 88,000 cu m VLGCs at HD Hyundai Heavy Industries, which, upon delivery, will go on a long-term charter with BGN.

BGN has already welcomed two newbuild LPG carriers in 2023 as part of a joint venture with Al Seer Marine and took delivery of two others in early 2024 through a partnership with Pertamina.

Earlier this year, the company also tapped the same yard in Ulsan for a pair of 88,000 cu m LPG/ammonia carriers, each worth about $118m.

The latest series, which industry sources suggest are optional units, will deliver in 2027 at about $124m apiece, according to a stock exchange filing by HD Korea Shipbuilding & Offshore Engineering.