Greece's Evalend Shipping has ordered two more LPG carriers at South Korea's Hyundai Mipo Dockyard (HMD), upping its tally of 40,000-cbm newbuildings contracted at the yard to four.
Shipbuilding sources said the Athens-based owner was behind an order for two LPG carriers disclosed by HMD parent Korea Shipbuilding & Marine Engineering (KSOE) at the end of last month.
The deal brings Evalend’s total spend on the conventionally fuelled LPG vessels at the yard to $182m, with the ships costing $45.5m apiece.
Evalend is said to hold an option to upgrade the gas carriers to LPG fuel. The company did not immediately respond to a request for comment.
HMD officials declined to comment, citing contract confidentiality.
Evalend’s gas carrier fleet will be tripled when it takes delivery of the quartet from HMD between late 2022 and mid-2023.
It currently owns two HMD-built, 38,000-cbm ships — the Innovator and Aquarama (both built 2018) — that were ordered in 2015 at a reported price of $50.5m each. The deal marked Evalend’s entry into the LPG sector.
Evalend has been active on the shipbuilding market in recent weeks. Last month, the Greek owner was reported to have signed up to four kamsarmax bulkers worth $108m at China’s Yangzi-Mitsui Shipbuilding (Yamic) — a joint venture between Yangzijiang Shipbuilding and Japan’s Mitsui E&S Shipbuilding. The deal was for two firm ships with options for a pair of additional vessels.
The 82,000-dwt ships are costing slightly more than $27m apiece and will be built to the old International Maritime Organization’s Tier II NOx emissions regulations. Yamic is slated to deliver the firm vessels late next year.
Evalend is also due to take delivery of two VLCC newbuildings from Hyundai Samho Heavy Industries this month and in June.
The 300,000-dwt scrubber-fitted crude carriers were ordered early last year for between $94m and $95m each.
According to Clarksons, Evalend has 41 vessels in its fleet. It consists of three 2020-built VLCCs, two LPG carriers, seven handysize chemical tankers and 29 bulkers.
Clarksons’ Shipping Intelligence Network shows the total number of LPG carriers on order to be 30. HMD and China’s Jiangnan Shipyard are the only two shipbuilders that are constructing the gas carriers, with the South Korean yard taking the lion’s share of the orders with 25 vessels.
