IINO Kaiun Kaisha, Ltd. (IINO Lines) has signed a time charter contract with Dubai-based energy and commodity trading company BGN for a 90,000-cbm LPG dual-fuel very large gas carrier (VLGC), with the signing ceremony taking place in Tokyo on 4 September.

The vessel will be constructed at HD Hyundai Heavy Industries Co., Ltd. in Ulsan, South Korea, and is scheduled for delivery at the end of December 2029.

The vessel’s dual-fuel main engine is capable of running on LPG as fuel, which IINO Lines notes contributes to lower CO2 emissions compared with conventional vessels powered solely by heavy fuel oil. It will be the fourth LPG dual-fuel vessel in the company's fleet.

With a length overall of 230 metres, a beam of 32.25 metres, a draft of 11.75 metres, and a cargo tank capacity of 90,000 cbm, a notable technical feature of the vessel is its ability to transit both the expanded Panama Canal, which opened in 2016, and the original Panama Canal. IINO Lines notes that most VLGCs are generally able to transit only the expanded canal, and that the new vessel will be the largest VLGC capable of transiting the original Panama Canal — a characteristic the company says will provide greater operational flexibility for customers.

The deal forms part of IINO Lines’ medium-term management plan, 'Transformation for a Sustainable Future', covering the period from April 2026 to March 2031, under which the group positions large gas carriers as a strategic growth domain, with ambitions to develop the segment into a core business from 2030 onwards. The group also states it is working towards net-zero emissions by 2050, and that expanding its fleet of low-carbon dual-fuel vessels is part of that effort.

BGN, which is headquartered in Dubai, describes itself as the world’s sixth-largest independent energy and commodity trading company, handling approximately 65 million tonnes of commodities — including LPG, LNG, petroleum products and chemicals.

IINO Lines, which is headquartered in Tokyo, has been engaged in the transportation of liquefied gases, including LPG, for more than half a century.