Union Maritime widens newbuild push with VLGC debut

Market sources and shipping data platforms list the Laurent Cadji-led company with two VLGC/VLAC newbuildings at HD Hyundai Heavy Industries in South Korea.   The ships, costing roughly $234m in total, are expected to deliver in 2029. Neither Union Maritime nor HD Hyundai has publicly named the owner, and no price has been confirmed by Union Maritime. If confirmed, the order would mark Union Maritime’s entry into the large gas carrier sector and add another ship type to one of the most active private newbuilding players in the market.      The company has built a broad orderbook across tankers, chemical tankers, product carriers and larger dry bulk tonnage.

Splash reported earlier this year that Union Maritime had been linked to its first newcastlemax bulk carrier order, with brokers reporting a deal for up to four 215,000 dwt vessels at Wuhu Shipyard.

That move followed a long run of tanker contracting, much of it in China, including LNG dual-fuel and wind-assisted tonnage.   Union Maritime’s own fleet list of more than 100 ships shows a wide mix of owned, chartered and managed vessels across crude, product, chemical and dry bulk shipping.   The reported VLGC move comes during a strong year for gas carrier contracting amid record rates.      South Korean yards have captured much of the recent VLGC and ammonia-ready ordering, with HD Hyundai Heavy building up a large book of LPG and ammonia carrier contracts.

Union Maritime was linked to an LPG carrier order at Hyundai Heavy in 2020, but that deal did not develop into the gas carrier buildout now being reported.