Shipowner BW LNG has secured up to four LNG carrier newbuilding berths at South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) worth almost $830m in total at today's prices.

Newbuilding sources said BW is understood to be booking two firm vessels priced at around $207m each.

These vessels are due for delivery dates in 2025.

BW, which has been a regular at DSME on LNG newbuildings, is also said to have secured another two optional slots.

The shipowner declined to comment on the order reports.

The newbuilding berths appear to have been booked after BW locked away its two open, speculatively-ordered, 2022-delivering vessels on period business in an exceptionally tight market where rates are rising fast.

In November, TradeWinds reported BW LNG has fixed one of its 174,000-cbm LNG newbuildings — BW Iris and BW Cassia — to China's ENN Energy for at least eight years, with options to extend the hire period.

Brokers said BW has also fixed one of these two vessels to BP for three years plus optional periods at a rate in the mid-$80,000-per-day range.

Gas guzzlers

Independent shipowners have been flocking to yards in search of delivery slots for LNG carrier newbuildings.

Maran Gas Maritime, another top DSME customer, snatched up to four LNG berths at DSME this month, Capital Gas snared three at Hyundai Samho Heavy Industries and Celsius Shipping has been moving on LNG carrier slots at Samsung Heavy Industries.

TradeWinds reported in the last few days that GasLog is rumoured to have secured a letter of intent with the yard on tonnage, amid reports that other names such as Minerva Marine and Alpha Gas are also searching.

But brokers said berths for 2024 have now vanished and 2025 is now looking tight with yards even playing hardball on slots with some of their best customers.

Prices are also climbing with talk that shipyard quotes are now up at around $215m per vessel.

The crush is being accentuated by the ongoing demand for containership newbuilding berths but also by QatarEnergy's huge berth reservation deal, which is forcing South Korea's big three to hold space open in 2025.