Kumiai Navigation Expands Dual-Fuel VLGC Fleet with New Charter

In Singapore, Kumiai Navigation has ordered another LPG dual-fuel very large gas carrier (VLGC) from Kawasaki Heavy Industries, bringing their total orders at the Japanese shipyard to four. The new 86,700-cbm vessel, designated Hull No 1770, is secured by a minimum seven-year time charter to Canadian energy infrastructure company AltaGas.

Kumiai’s managing director, Tomomaru Kuroyanagi, confirmed the contract, noting that this is the second dual-fuel VLGC ordered against an AltaGas charter. The first ship, ordered last year, is set for delivery in April 2026 and is also chartered for seven years.

While the price of the latest order was not disclosed, industry brokers estimate it at around $120 million. This follows a trend, as Abu Dhabi’s Adnoc Logistics & Services recently commissioned similar carriers for approximately $120 million each, and Japan’s Iino Kaiun contracted a dual-fuel VLGC for $127 million.

The new vessel is expected to be delivered in the fourth quarter of 2026, with AltaGas planning to use it for exporting LPG from western Canada to markets in the Far East and Asia. Kumiai’s two other newbuilds from Kawasaki Heavy are scheduled for delivery in February and June 2025, with charter agreements in place with Trafigura and BGN International.

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