Asia Pacific Shipping boosts its orderbook with new LPG carrier pair

Vietnam-based shipping company Asia Pacific Shipping has decided to order a pair of liquefied petroleum gas (LPG) carriers in China.

The company has contracted Chinese Jiangnan Shipyard to construct two 50,500 cbm LPG carriers, Intermodal shipbrokers’ data shows. Each of the vessels is valued at $102 million.

The ships are designed for the transport of liquid ammonia. They are slated for delivery in 2027.

Asia Pacific Shipping was established in 2021. The company owns and operates a diversified fleet, including LPG carriers, oil tankers, and bulk carriers.

According to the data provided by VesselsValue, the shipowner has eight ships ordered on different yards. Two contracts were signed in China with Wuchang Shipbuilding Industry Group and Guangzhou CSSC Longxue Shipbuilding for four and two ships, respectively.

Asia Pacific Shipping also contracted South Korean shipbuilding company K Shipbuilding for two tankers.

There are currently 20 vessels in operation, including three LPG carriers. Apollo Ocean, Genevi, and Lady Rosalia, according to the company’s website.

Meanwhile, Jiangnan Shipyard recently secured an order for the construction of up to four 93,000-cbm very large ammonia carriers (VLACs). The order was placed by Singapore-based company specializing in vessel chartering and logistics solutions Jaldhi Overseas, part of Bothra Group.

For the Chinese shipyard, this is the second shipbuilding deal involving VLACs in less than 30 days.

In late July, AW Shipping, a joint venture company between ADNOC L&S and Wanhua Chemical, awarded a contract worth around $250 million to Jiangnan Shipyard with the option for another two VLACs at the same price.