HMM and B International Shipping & Logistics form JV for LPG shipping expansion

The companies will operate two two VLGCs each with a capacity of 88,000 CBM.

South Korea’s HMM has partnered with B- International Shipping and Logistics to establish a joint venture that will expand the scope of Liquefied Petroleum Gas (LPG) transportation operations.

According to HMM, the new joint venture HMMB INT Shipping Pte. Ltd is equally funded by HMM and B International Shipping & Logistics, each holding a 50% stake.

The venture plans to operate two Very Large Gas Carriers (VLGCs) each with a capacity of 88,000CBM, under a 10-year contract with the option to extend by another 5 years.

Both VLGCs are currently under construction at HD Hyundai Heavy Industries and are scheduled for delivery in the first half of 2027.

Following the acquisition of three mid-sized LPG vessels this year, this joint venture marks an additional step forward in strengthening HMM’s position in the green energy shipping sector.

“This joint venture marks a strategic move to actively respond to the growing demand for gas transportation and sets the stage for future collaboration in low-carbon and environmentally sustainable energy logistics,” an HMM official stated.

“The delivery of these two vessels underlines BGN’s vision to sustainably grow our LPG business, expand our global reach, and add value for our customers, as we also contribute to the energy transition,” said Ozan Turgut, Director of Shipping, B-Shipping.