Belgium-based shipping player EXMAR has revealed the beginning of the construction of its new midsize gas carrier with LPG dual-fuel engines.
As disclosed, the steel cutting ceremony for EXMAR’s third midsize gas carrier was held on December 30, 2024, at CIMC Sinopacific shipyard in China.
Its delivery is anticipated in the second quarter of 2026.
The newbuild is part of EXMAR’s series of four 41,000 cubic meter LPG dual-fuel midsize gas carriers recently acquired from Norway’s shipping company Avance Gas.
Purchased for a total price of $282.4 million, these additions are expected to broaden the fleet’s range of sizes and capabilities and attract new business.
This move is also said to underscore EXMAR’s strategy of maintaining a diverse and adaptable fleet to meet evolving market demands.
In related news, last month EXMAR announced the opening of a new entity, EXMAR LPG France, which will own and operate six newbuild dual-fuel LPG/ammonia midsize gas carriers under construction at HD Hyundai Mipo in South Korea.
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The ships are expected to be the first-ever oceangoing vessels to be propelled by dual-fuel engines capable of operating with ammonia.
The South Korean shipyard laid the keel for the first 46,000 cubic meter (cbm) carrier in July 2024. The delivery of the vessel is scheduled for the first quarter of 2025.
The first two units in this six-vessel series will be powered by LPG dual-fuel engines while the remaining four vessels will be fueled by ammonia.