BGN Orders Four More Dual-Fuel VLGCs from HD Hyundai Heavy Industries
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BGN, a Dubai-based energy operator, signed a contract with South Korean shipbuilder HD Hyundai Heavy Industries (HD HHI) for the construction of four new dual-fuel LPG VLGCs (Very Large Gas Carriers), each with a cargo capacity of 93,000 cubic meters. The agreement was signed at a ceremony held in Istanbul, with delivery of the vessels scheduled for January 2030.
Tenth order of the year at the same shipyard
With this order, BGN brings to ten the number of dual-fuel VLGCs contracted from HD Hyundai during 2026. The new order follows previous agreements from April, for four 90,000 m³ vessels, and from June, for two 93,000 m³ units. Once the four new vessels are delivered, BGN's own LPG VLGC fleet will grow from 19 to 23 vessels, within a total fleet of more than 40 owned and chartered ships.
Statements from both parties
Ozan Turgut, BGN's Head of Shipping, said the company is excited about the pace of its fleet growth and that, by accelerating investment in next-generation vessels, it aims to build the capacity needed to support its strategic growth and diversify its global energy portfolio. A spokesperson for HD Hyundai Heavy Industries stated that the company is pleased to continue its partnership with BGN through this order for four additional dual-fuel VLGCs, featuring advanced technologies intended to jointly support BGN's strategic growth and the reduction of carbon emissions in global LPG shipping operations.
The shipbuilder's perspective
From the standpoint of HD Korea Shipbuilding & Offshore Engineering, HD Hyundai's intermediate holding company specializing in shipbuilding, the contract was signed with a Middle East-based shipping company for a total amount of 625.8 billion South Korean won, with delivery scheduled for the first half of 2030. With this order, the company has accumulated orders so far in 2026 totaling 174 vessels worth 19.25 billion dollars, representing 82.6% of its provisional annual target of 23.31 billion dollars.
Dual-fuel technology
The new VLGCs will be equipped with dual-fuel technology, enabling them to operate on both LPG and conventional marine fuels, supporting more efficient shipping operations. Both BGN and HD Hyundai framed the agreement within the context of both companies' commitment to shipping decarbonization and the strengthening of global energy supply chains.
