US energy major Chevron has floated a charter tender for two VLGC newbuildings.
Shipping players say Chevron is seeking to bareboat charter the large gas carriers for three to five years.
“The delivery date it [Chevron] seeks for the newbuildings is between 2020 and 2021,” a shipping source said. “It is looking for non-dual fuel vessels and prefers panamax type."
Latsco vessels
Chevron also emerged in the market last year for similar business.
Another shipping player said the major chartered two VLGC newbuildings ordered by Latsis family-controlled Latsco at Hyundai Heavy Industries for periods of five years.
Latsco ordered the 80,000-cbm gas carriers at the South Korean shipyard last summer for delivery during the second quarter of 2020.
The Greek company was reported as paying at least $73m per ship.
The vessels are being built to IMO Tier III emission standards and are being fitted with exhaust gas scrubbers.
One gas player said the outlook of the large gas carrier market is positive as petrochemical energy will be replaced by clean energy, such as LPG.
VLGC orders
The orderbook for VLGCs is also significantly smaller, as owners have been delaying the order of the ship-type due to the IMO 2020 regulations.
Trading and shipowning giant Trafigura is also seeking a pair of VLGC newbuildings. TradeWinds reported that the company is close to concluding two LPG-fuelled 84,000-cbm vessels at HHI.
In June, South Korea's KSS Line ordered one firm 86,000-cbm scrubber-fitted VLGC at HHI for 2021 delivery. The deal includes an option for a second unit.
KSS has fixed out the firm vessel to Spanish trading house Vilma Oil for at least five years, with options to extend for a further two years at $830,000 per month.
