Arab Maritime Petroleum Transport Co (AMPTC) is expanding its presence in the gas carrier sector, ordering two midsize LPG carriers.
It is said to have booked the 45,000-cbm newbuildings at Hyundai Mipo Dockyard.
The deal marks the Cairo-based company’s debut in the midsize gas carrier business.
Shipbuilding sources said AMPTC is the unnamed company in last week’s announcement of the order by HD Korea Shipbuilding & Offshore Engineering, the parent of HMD.
The South Korean group said one Middle East buyer had ordered two LPG carriers worth KRW 219.5bn ($159m) in total, or $79.5m per ship.
The company, which is the shipbuilding unit of giant HD Hyundai Heavy Industries Holdings, said the gas carriers would be built by Ulsan-based HMD for delivery by June 2026.
One gas player said that, based on the price of the newbuildings, the ships will be installed with dual-fuel engines but no shaft generators.
AMPTC did not reply to email queries.
Gas sources said AMPTC has two VLGCs on the water — the 82,000-cbm Ocean Gas and Gas Alkhaleej (both built 2008).
Last year, it ordered two 91,000-cbm VLGCs at HHI for a reported price of $103.5m apiece, for delivery by August 2026. The two VLGCs are said to be replacement vessels.
One gas market player said AMPTC used to work closely or in partnerships with Greek gas carrier owner Benelux Overseas on LPG business until a few years ago.
“Since the cooperation ended, AMPTC would need [the ships] to cover themselves,” the source said.
Benelux owns two MR tankers and four LPG ships, according to Clarksons’ Shipping Intelligence Network.
It also has three 48,000-cbm LPG carriers under construction at CSSC Guangzhou Huangpu Wenchong Shipbuilding for delivery in 2026 and 2027.
In April, Benelux was reported to have exited the VLGC market with the sale of its sole large LPG carrier — the 77,900-cbm Gas Gloria (built 2001) — for about $43m.
A Chinese company called Camellia Shipping is listed as the new owner of the Japanese-built ship, which has been renamed Quantum Star.
Gas shipping experts believe Benelux’s VLGC exit was an “opportunistic approach” and it will return to segment at some stage.
AMPTC is a joint venture of nine governments: Saudi Arabia, Kuwait, Qatar, Libya, the United Arab Emirates, Iraq, Algeria, Bahrain and Egypt.
It is listed with 14 vessels, according to Clarksons: two VLGCs, six suezmax product tankers and six LR2 tankers.
