HMM, BGN unit form LPG shipping JV

HMM, South Korea’s largest national carrier, has partnered with B International Shipping and Logistics, a part of the Swiss BGN group of companies, to establish a joint venture in Singapore.

As explained, the collaboration aims to expand the scope of liquefied petroleum gas (LPG) transportation operations.

The new joint venture, HMMB INT Shipping, is equally funded by HMM and B International Shipping & Logistics, each holding a 50% stake. The JV plans to operate two very large gas carriers (VLGCs), each with a capacity of 88,000 cbm, under a ten-year contract with the option to extend by another five years.

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

BGN Group is a global trading company handling approximately 14 million tons of LPG annually and operating a fleet of over 40 LPG vessels.

HMM previously operated five LPG vessels but suspended business in 2016. Under its 2030 Mid-to-Long Term Strategy, HMM is now reinforcing its bulk business portfolio, with plans to expand its LPG and