BGN and IINO KAISHA LTD of Tokyo have signed a new time‑charter agreement for a very large gas carrier, the companies and trade reporting said this week.
The arrangement, reported on 14 September 2026, formalises a strategic partnership in liquefied petroleum gas shipping between the two groups. The charter concerns a newly ordered, dual‑fuel vessel that BGN will take on time charter from IINO KAISHA LTD.
The ship specified in the announcement is a 90,000 cubic metre LPG dual‑fuel Very Large Gas Carrier, commonly abbreviated to VLGC. The contract notation highlights the vessel’s carrying capacity and propulsion specification as the principal technical features of the deal.
Construction has been entrusted to HD Hyundai Heavy Industries in Korea, which will build the unit at one of its yards. The report states that the carrier is currently under construction and is scheduled for delivery by the end of December.
The deal is described by the report as strengthening the strategic partnership between BGN and IINO Lines in LPG shipping. It is recorded as a time charter rather than a sale, indicating the vessel will remain under the owner’s control while being commercially operated by the charterer for a fixed period.
Vessel specification and propulsion
The central technical detail disclosed is the 90,000 cbm cargo capacity combined with a dual‑fuel propulsion arrangement. The designation confirms the ship will operate as a VLGC built to modern specification and fitted to burn more than one type of fuel.
The builder named in the report is HD Hyundai Heavy Industries in Korea, which is handling construction of the vessel. reports’s item gives the shipyard and the expected point of completion but does not disclose further construction details.
Commercial terms and strategic intent
The statement provided in the report frames the agreement as part of an ongoing strategic partnership in the LPG sector between the two companies. It is recorded as a time charter, a commonly used commercial structure for deploying specialised tonnage in energy trades.
No financial terms, charter length or employment route were disclosed in the report. The announcement focuses on the parties, the vessel’s key characteristics and the timing for delivery.
The transaction brings a large, modern dual‑fuel VLGC into the fleets associated with the two companies and underlines their continuing engagement in LPG tonnage procurement and chartering. Further operational details and the precise commencement date for the charter were not included in the published summary.
reports's coverage serves as the reporting source for these particulars. The companies involved have been named in that item as BGN, IINO KAISHA LTD (IINO Lines) and HD Hyundai Heavy Industries, with the reported schedule indicating delivery by the end of December.