Trafigura books VLGC duo at Hyundai Heavy

Commodity trading giant Trafigura has placed an order at South Korean yard Hyundai Heavy Industry (HHI) for the construction of two LPG-fuelled VLGCs.

According to Korean financial media Maeil, Trafigura had been negotiating with HHI for the order since earlier this year and has finally made the decision to order the two 84,000 cu m ships.

Deliveries are scheduled in the first and third quarter of 2021. The price for each ship is $71m.

Including the latest order, HHI now has 17 VLGCs on its orderbook.

Trafigura is a leading trader in the LPG market, having traded 82m barrels of LPG in 2018.

Last week, Trafigura sold up to 14 suezmax tankers to John Fredriksen’s Frontline in a cash plus shares deal.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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