EXMAR Initiates Construction of New Midsize Gas Carrier with LPG Dual-Fuel Engines

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.

Expanding Fleet Capabilities

The acquisition of these midsize gas carriers is a significant step for EXMAR, as it enhances the company’s ability to cater to a wide range of customers and cargo types. The LPG dual-fuel engines will provide a more environmentally friendly and efficient option for shipping, aligning with the industry’s growing focus on sustainability.

Related Developments

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. This expansion demonstrates EXMAR’s commitment to innovation and its efforts to stay ahead of the curve in the maritime industry.

The development of these new gas carriers is expected to have a positive impact on the industry, providing more efficient and sustainable shipping options. As the maritime sector continues to evolve, companies like EXMAR are leading the way in adopting new technologies and strategies to meet the changing needs of the market.

Key Takeaways

• EXMAR has initiated the construction of a new midsize gas carrier with LPG dual-fuel engines.
• The newbuild is part of a series of four gas carriers acquired from Avance Gas for $282.4 million.
• The expansion is expected to broaden EXMAR’s fleet capabilities and attract new business.
• EXMAR is committed to maintaining a diverse and adaptable fleet to meet evolving market demands.

As the maritime industry continues to navigate the challenges of sustainability and efficiency, companies like EXMAR are paving the way for a more environmentally friendly and innovative future. With the construction of its new midsize gas carrier and the expansion of its fleet, EXMAR is solidifying its position as a leader in the industry.