Fast-growing Al Seer Marine has booked another gas carrier newbuild as part of its ABGC DMCC joint venture with Dubai-based energy trader BGN International.
The ADX-listed subsidiary of the International Holding Company (IHC) announced an order worth around $90m for an 86,700 cu m liquefied petroleum gas (LPG) and liquefied ammonia gas (NH3) carrier at Japanese shipbuilder Kawasaki Heavy Industries (KHI).
The 230 m long LPG-powered vessel will deliver from KHI’s Sakaide Works in 2025 and be equipped with separate cargo tanks designed to carry LPG and liquefied ammonia at the same time.
The deal comes hot on the heels of the joint venture’s $197m contract with South Korea’s Hyundai Samho Heavy Industries for two 88,000 cu m LPG units to be delivered by January 2026.
“There is a huge demand for gas vessels, especially as global energy demand is forecast to rise by 8- 10% over the next five years, mainly driven by increase in Asian and African demand. Al Seer Marine’s latest acquisition of this carrier reinforces our strategy to ensure the company stands at the forefront of the global marine sector,” said Guy Neivens, CEO of Al Seer Marine.
The latest order takes Al Seer’s fleet to 15 vessels, worth nearly $750m. The company has acquired a total of five gas carriers and is “currently exploring the opportunity of acquiring two additional gas vessels in the next six months”.
