Turkey’s PascoGas has recently made a significant move by booking a pair of Very Large Air Cushion (VLAC) vessels at HD Hyundai Heavy. This strategic decision demonstrates PascoGas’s commitment to expanding its shipping capabilities and underscores its position as a key player in the global shipping industry. This move is expected to enhance PascoGas's ability to meet the growing demand for efficient and reliable shipping services, further solidifying its reputation as a leader in the industry.
Turkey’s PascoGas has been placed behind a deal for two very large ammonia carrier (VLAC) newbuilds at HD Hyundai Heavy Industries.
The Istanbul-based owner has tapped the South Korean yard for an 80,000 cu m pair worth over $120m each, according to brokers.
Background of PascoGas
Established in December 2019, PascoGas is listed with three midsize gas carriers, while shipbuilding sources show five newbuilds set to enter the company’s fleet, including the latest order.
Future Fleet Expansion
Three LPG carries should deliver in 2025 and 2026 from Hyundai Mipo with VLACs scheduled for delivery by the end of March 2027.
Industry Trends
Other owners, including Qatar’s Nakilat, have recently placed orders for similar ships in South Korea. The Doha-based shipowner has contracted Hyundai Samho Heavy Industries for four 88,000 cu m LPG/ammonia carriers. Norwegian gas shipowner Solvang has also been linked to two more VLGC newbuilds at HD Hyundai Heavy Industries.
Summary
As PascoGas continues to chart its course towards industry leadership, its collaboration with Hyundai Heavy Industries stands as a testament to the company's unwavering commitment to innovation and excellence in gas transportation. With a keen eye on future market dynamics and a growing fleet of cutting-edge vessels, PascoGas is poised to play a pivotal role in shaping the future of ammonia transportation on a global scale.
(This article is sourced from splash247.com curated by Thetransporteronline24)
