UAE’s Al Seer Marine commences work on its first ‘very large gas carrier’

UAE’s Al Seer Marine commences work on its first ‘very large gas carrier’

Abu Dhabi-based Al Seer Marine (ASM), a subsidiary of International Holding Company (IHC), recently performed the steel cutting ceremony for its first very large gas carrier (VLGC), named Lucky Gas. Al Seer Marine formed a joint venture last year, named ABGC DMCC, with BGN International, one of the world’s leading energy, trading, storage and transportation companies, to build two new VLGCs. The company awarded the contract to Hyundai Heavy Industries in Korea. This follows a projected boost in the VLGC segment with growing liquified petroleum gas (LPG) trade relationships between multiple regions, including the Middle East and Asia, Western Africa and Europe, and the US. This marks the first steel cutting for Lucky Gas, which is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May and be completed and delivered by June 2023. Both ships are sized at 86,000 cubic metres capacity and the propulsion machinery of each ship will be LPG fueled, making them environmentally friendly with less emissions. Guy Neivens, CEO of Al Seer Marine, said “This is an exciting moment for Al Seer Marine and our partners, BGN International, as it demonstrates our