Japan’s Mitsui & Co is said to have struck a deal with HD Korea Offshore & Shipbuilding Engineering for two midsize gas carriers.
Shipbuilding sources named the trading house as the buyer behind the LPG carrier order that HD KSOE disclosed last week.
In a regulatory filing, the South Korean yard said an “African shipowner” had signed a contract for two LPG ships worth about KRW 186bn ($143m) or $71.5m each.
It added that Hyundai Mipo Dockyard would deliver the vessels by December 2026.
HD KSOE did not disclose the size of the carriers, but shipbuilding sources said they are 45,000 cbm.
“These are fully refrigerated units which will be powered by conventional marine fuel,” said one source.
Some gas players believe Mitsui & Co ordered the vessels on behalf of domestic tonnage supplier Nissen Kaiun or Lepta Shipping — a joint venture between Nissen and Mitsui & Co.
They said the two companies are “close knit” and it is not unusual to see Mitsui & Co ordering newbuildings on behalf of the other Japanese companies.
“It is like the MR tanker deals,” said the source.
Demand for mid-size carriers
TradeWinds is told that Mitsui & Co has four 50,000-dwt product carriers under construction at Hyundai Vietnam Shipbuilding for delivery between 2025 and 2026, which were ordered on behalf of Nissen Kaiun.
Mitsui & Co is believed to be the fifth company to order midsize gas carriers at HMD this year. The others are Purus Marine, Exmar LPG, PascoGas and West Africa LPG.
HD KSOE said Hyundai yards have secured 28 LPG and ammonia carriers in 2023.
The group has achieved its order target for this year, winning contracts to build 151 vessels, including one floating production unit. It has netted $21.39bn worth of newbuilding contracts, exceeding its target of $15.74bn.
