Norway’s Solvang has confirmed an order for a VLGC at South Korea’s Hyundai Heavy Industries.
In a filing to the Oslo exchange, the company said the 84,000-cbm LPG carrier will be delivered in the third quarter of 2013, without giving a price.
Market sources believe the price would be over mid-$70m.
Solvang will be the managing owner with a stake of 15% in the vessel.
Solvang has two panamax VLGCs in its fleet, plus the 82,000-cbm Clipper Sun (built 2008). It was acquired as a resale for $87.5m in 2008.
In October 2005, Solvang paid $170m for two 60,000-cbm gas carriers, also at HHI.