Iino Kaiun Kaisha,ltd. TSE:9119
Iino Kaiun Kaisha : Signing Ceremony of Time Charter Contract for LPG Dual-Fuel VLGC with BGN
Source: MarketScreener
IINO Kaiun Kaisha, Ltd. (Head Office: Tokyo; hereinafter "IINO Lines") is pleased to announce that signing ceremony was held for a time charter contract for a 90,000m³ LPG Dual-Fuel Very Large Gas Carrier (VLGC; hereinafter "the Vessel") in Tokyo, Japan on September 4 with BGN*1 (Head Office: Dubai, United Arab Emirates). The Vessel will be constructed at HD Hyundai Heavy Industries Co., Ltd. (Head Office: Ulsan, South Korea) and is scheduled for delivery at the end of December 2029.
The Signing Ceremony
Under the IINO Group's Medium-Term Management Plan, "Transformation for a Sustainable Future " (The period from April 2026 to March 2031), the Group positions large gas carriers as a strategic growth and new business domain within its portfolio, aiming to develop them into a core business from 2030 onward, and advancing initiatives toward achieving its net-zero emissions by 2050. As part of these efforts, the Group is expanding its fleet of low-carbon dual-fuel vessels to reduce greenhouse gas (GHG) emissions. The Vessel will be the fourth LPG dual-fuel vessel for IINO Lines*2.
In addition, the Vessel is capable of transiting both the Expanded Panama Canal, which opened in 2016, and the original Panama Canal, which had been in operation prior to the expansion, and will be the largest VLGC capable of transiting the original Panama Canal. While most of the VLGCs can generally transit only the Expanded Panama Canal, the Vessel can transit both canals which provides greater operational flexibility to meet customers' needs.
IINO Lines has been engaged in the transportation of various liquefied gases, including LPG, for more than half a century, supported by medium- to long-term contracts with customers in Japan and overseas. Leveraging the extensive experience and technical expertise accumulated through many years of vessel operation and ship management, the Group strives to provide safe and reliable transportation services.
The Group will continue to place the highest priority on safety in its business operations while proactively adopting technologies that contribute to reducing environmental impact and work toward contributing to the realization of a sustainable society.
Length Overall : 230m
Beam : 32.25m
Draft : 11.75m
Cargo Tank Capacity : 90,000㎥
Scheduled Delivery : End of December 2029
*1 About BGN
BGN is the world's sixth-largest independent energy and commodity trading company. It handles approximately 65 million tons of commodities, including LPG, LNG, petroleum products, and chemicals, and operates in more than 120 countries worldwide.
*2 About LPG Dual-Fuel Vessel
A vessel equipped with a dual-fuel main engine capable of using LPG as fuel, contributing to lower CO2 emissions compared with conventional vessels powered solely by heavy fuel oil.
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