South Korean shipping firm KSS Line has ordered three dual-fuel LPG very large gas carriers (VLGCs) from HD Hyundai Heavy Industries.
The shipbuilder will construct three 90,000 m3 vessels capable of running on LPG and conventional marine fuels, the firm said in a statement on its website on Monday.
The vessels are scheduled for delivery from the first quarter of 2029 and will operate under long-term time charter agreements with energy trader BGN Group and Japan’s GYXIS Corporation.
KSS Line said the charter contracts are valued at about KRW 700 billion ($504 million) in total, equivalent to roughly 124% of the company’s previous annual revenue.
LPG remains a niche alternative bunker fuel for now, being used almost exclusively in gas carriers.
The global LPG-fuelled fleet currently comprises 157 ships, with 111 more expected to be delivered by 2028, according to data from classification society DNV.