On September 14, 2026, BGN (International Energy and Commodity Trading Company) signed an agreement with IINO KAISHA LTD located in Tokyo (IINO Lines) for the time charter of an LPG carrier with a capacity of 90,000 cubic meters (cbm). This ship, known as a Very Large Gas Carrier (VLGC), will be built by HD Hyundai Heavy Industries in South Korea and is expected to be delivered by the end of December 2029.
Strategic Development in the LPG Market
BGN has established this cooperation to respond to the growing demand in the LPG market, aiming to expand and diversify its global energy and commodity trading. This agreement reflects BGN's commitment to expanding its LPG marine and logistics operations, which includes over 40 vessels and is considered one of the largest fleets in this sector.
BGN's Important Role in the Global LPG Market
As a key player in the global LPG market, BGN is the largest buyer of LPG from the United States, holding about 10 percent of the global LPG volume. Masao Kawakami, LPG trader at BGN, stated: "We consider IINO Lines as an important long-term partner in developing our LPG transportation portfolio and are pleased to strengthen our relationship. With the continued growth of BGN's Very Large Gas Carrier (VLGC) fleet, there are many opportunities for collaboration in this sector as well as exploring new areas of cooperation in gas transportation and broader energy markets.
Through collaborations and partnerships, BGN is committed to the continuous growth of the LPG market and investment across the entire LPG value chain. As the sixth largest independent energy and commodity trading group, it is a leader in transitional fuels and clean energies. With over 80 years of experience in the energy sector, BGN is engaged in the trading, distribution, storage, and financing of energy solutions globally, managing approximately 65 million tons of goods annually. The company is present across the entire energy value chain and has established strong relationships with refineries, producers, state oil companies, and leading industrial and petrochemical companies.
