Al Seer Marine (ASM), a subsidiary of International Holding Company (IHC), performed the steel cutting ceremony for its first Very Large Gas Carrier (VLGC), named Lucky Gas.
Last year, Al Seer Marine formed a joint venture named ABGC DMCC with BGN International to build two new VLGCs.
It awarded the contract to Hyundai Heavy Industries in Korea. This follows a projected boost in the VLGC segment with growing liquefied petroleum gas (LPG) trade relationships between multiple regions, including the Middle East and Asia, Western Africa and Europe, and the United States.
Lucky Gas is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022 and be completed and delivered by June 2023.
Both ships are sized at 86,000 cubic meters capacity. Each ship’s propulsion machinery will be LPG fueled, making them environmentally friendly with fewer emissions.
The company aims to increase its fleet up to 20 ships and is analyzing expansion initiatives in product tankers, gas tankers, and dry bulk shipping sectors, with short-term plans of acquiring 10 to 15 ships in 2022.
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 commitment to global decarburization initiatives in our pursuit to becoming a modern, world-leading commercial shipping company.”
Earlier in the year, Al Seer Marine launched its additive manufacturing business unit, leveraging the latest additive manufacturing technologies for the company’s in-house manufacturing of unmanned vessels and vehicles. The business unit will also develop large-scale additive manufacturing products and parts in high-demand regionally and globally.