Singapore-based Jaldhi Overseas has placed an order for two 40,000-cbm LPG/ammonia carriers at Jiangsu Yangzi-Mitsui Shipbuilding Co (Yamic) in China.
Yamic is a joint venture between Japanese trading house Mitsui & Co and China’s Yangzijiang Shipbuilding.
The ships will be delivered in May and August of 2027.
The Jaldhi contract comes shortly after Lepta Shipping, owned by Mitsui & Co and Nissen Shipping, also signed up for a series of four 40,000-cbm LPG carriers at the same shipyard.
Lepta is Yamic’s major client and has placed contracts amounting to around one-third of its total orderbook of 64 ships.
No price has been reported for the Jaldhi newbuildings, but brokers estimate 40,000-cbm LPG carriers to be valued on average at around $67m.
Jaldhi, part of the Indian Bothra group, was formed in 2012 and principally operates in the bulk carrier, chemical and products tanker trades.
The investment into LPG carrier newbuildings appears to be a diversification of its shipping services.
It has embarked on a comprehensive newbuilding programme at Yamic through Mitsui & Co.
In addition to the recently ordered LPG carriers, Jaldhi currently has six 50,000-dwt product carriers and four 50,000-dwt bulk carriers on order at the same shipyard.
Jaldhi chief executive Suresh Kumar could not be reached for comment.
He told TradeWinds in an earlier interview that the newbuilding project is intended as fleet renewal and an opportunity to invest in more environmentally friendly ships.
The company has opted to take the newbuildings under Japanese operating lease arrangements.
“We need to keep pace with the environmental regulations, and charterers are also looking at green options,” Kumar told TradeWinds.
