UK-based Union Maritime is poised to further grow its presence in the gas carrier sector with an order for a single vessel at a South Korean shipyard.
The Laurent Cadji-led company has signed up for a 40,000-cbm gas carrier at Hyundai Mipo Dockyard for delivery late next year, according to industry sources. The contract includes an option for an additional ship.
Union Maritime, which is primarily a tanker company, is said to have inked the LPG carrier contract last month, but the order was not reported.
Officials at HMD declined to comment on reports of the deal and Union Maritime did not reply to emails.
Union Maritime is said to be paying about $48m for the LPG carrier, which is for now contracted to run on conventional fuels. However, the company has the option to upgrade the LPG carrier to dual-fuel, so that can also run on LPG.
Union Maritime, which is primarily a tanker company, made its debut in the LPG sector last year with an order at Hyundai Heavy Industries for a 91,000-cbm LPG-fuelled VLGC newbuilding. The contract included an option for a second vessel.
The company was said to be paying close to $80m for each ship. HHI is scheduled to deliver the VLGC in the first quarter of next year.
Union Maritime was reported to have booked the single VLGC newbuilding on the back of a long-term charter from an unnamed oil major. But details of the charter were not disclosed.
On the tanker front, Union Maritime has a pair of 113,000-dwt crude carriers under construction at Cosco Shipping Heavy Industry Zhoushan for delivery this year. The aframaxes were reported to be costing slightly more than $45m each.
The company was said to have bought the 175,600-dwt Cape Istanbul (built 2011) from Turkey’s Eregli Shipping for $19.1m and Nissen Kaiun’s 176,800-dwt King Ore (built 2010) for $20.3m.
