Shipping company KSS Line has decided to order an 84,000 cbm very large gas carrier (VLGC) at compatriot Hyundai Heavy Industries (HHI) shipyard.
Signed on June 13, the deal also includes one option for an identical vessel, according to KSS Line.
The vessel, to be equipped with a scrubber, is expected to be delivered in 2021. It will be able to transit both the old and new Panama Canal locks.
As explained by KSS Line, the investment comes as a preemptive response to changes in the LPG transportation market.
In December, KSS Line signed a five-year transportation contract with Spanish energy trading company Vilma Oil. The newbuild(s) would be reportedly deployed under this contract.
KSS Line and HHI signed a MoU in March this year to develop two new LPG carrier designs with capacities of 84,000 cbm and 90,000 cbm.
KSS Line’s fleet comprises more than twenty owned and operated gas and chemical carriers.