BW Gas, led by Andreas Sohmen-Pao in Singapore, has ordered four plus two options VLGCs at Hyundai Heavy Industries in Korea. Clarkson data puts the 84,000 dwt quartet as due for delivery in 2015.
There has been a spate of LPG orders in recent months, the sector deemed one of the most promising for growth according to an ongoing poll carried by our sister title Maritime CEO.
The potential for an LPG shipping boom is linked to the continuous expansion of US shale gas production. Since the LPG bi-products would be produced, as long as shale gas exploration is not stopped and US gas export policies remain as now whereby exporting LPG products is not restricted, there are likely to be countries wishing to import LPG from the US and the opening of expanded Panama Canal will make the financials of US shipping exports more sound.