Japanese shipowner Nissen Kaiun has placed an order for two 45,000 cu m liquefied petroleum gas (LPG) carriers at HD Hyundai Mipo Dockyard in Ulsan. According to multiple newbuilding sources, the vessels are priced at approximately $73.5 million each, with delivery scheduled for 2027.
The low-profile company, which operates a fleet of over 200 vessels—including 10 very large gas carriers (VLGCs)—is currently managing more than 30 newbuilding projects.
In 2023, Nissen Kaiun contracted four 88,000 cu m LPG/ammonia carriers at Yangzi-Mitsui Shipbuilding (Yamic), with deliveries set between May 2028 and February 2029. The company was previously linked to another pair of LPG newbuilds at Hyundai Mipo and has multiple MR2 tankers on order at the yard, with deliveries expected this year and next.