PascoGas is believed to have returned to a Hyundai yard for more LPG carrier newbuildings.
The Turkish shipowner is being linked to the order of two midsize vessels that HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced on Tuesday.
The South Korean shipbuilding group said an “Oceania” shipper had ordered the pair at HD Hyundai Mipo for delivery by July 2027.
HD KSOE did not disclose their size or price.
Gas players following the shipbuilding market said the newbuildings have a capacity of 45,000 cbm and will cost around $83.5m each.
With this latest deal, PascoGas has five midsize gas carriers on order at Ulsan-based HD Mipo.
Its earlier three newbuildings — one 40,000-cbm vessel and two 45,000-cbm vessels — were ordered in 2022 and 2023 respectively. HD Mipo will be delivering one ship soon and the other two ships in March 2025 and October 2026.
The average price for the trio is about $71.5m.
PascoGas is also building two very large ammonia carriers (VLACs) at HD Hyundai Heavy Industries.
It ordered them early this year and they were reported to cost about $121m each.
The VLACs, which are believed to be 88,000-cbm ships with shaft generators, are listed as due for delivery by the end of March 2027.
Established in 2019, PascoGas is a joint venture of several companies that originally included Turkey’s Negmar Denizcilik.
Its midsize LPG fleet will more than double when it takes delivery of all five HD Mipo newbuildings by 2027. Its website indicates that it has four LPG carriers on the water: the 38,500-cbm Pasco Odin (built 2005), 40,000-cbm Pasco Marsel and Pasco Roni (both built 2023) and Pasco Berke (built 2024).
