The LPG shipping market enjoyed a boom in 2014 and 2015 resulting in a surge in VLGC orders, leading to overcapacity, and the market now looks to be in for a rough ride until 2020.

The first commercial transit of the expanded Panama Canal took place on Monday and was the first ever of the canal by a VLGC.

Mumbai-based Great Eastern Shipping (GE Shipping) has entered into a deal to buy a secondhand 1996-built VLGC of 76,931 cu m.

Dorian LPG has concluded the sale of Grendon, its oldest, smallest LPG Carrier, to focus solely on very large gas carriers (VLGCs).

TMS Cardiff Gas has exercised options for two VLGCs at Hyundai Heavy Industries (HHI) and has secured 10-year charters for the newbuilds.

China’s Jiangnan Shipyard has received an order to build one 84,000 cu m VLGC plus one option from Greece’s Naftomar Shipping & Trading.

Privately-owned Yangzijiang Shipbuilding has confirmed 12 new shipbuilding orders worth a total of $730m, including its first VLGC order for two units of 84,000 cu m gas carriers.

Astomos Energy Corporation has ordered a very large 83,000 cu m LPG carrier from Japan’s Mitsubishi Heavy Industries (MHI) Shipbuilding.

Kawasaki Kisen Kaisha (K Line) is ordering a new VLGC from Kawasaki Heavy Industries (KHI) on the back of a time charter to Gyxis Corp.

Kuwait Oil Tanker Company (KOTC) is to re-tender for two VLGCs after only two South Korean yards put in bids, which were considered too high to proceed. These vessels are part of the Phase IV of KOTC’s fleet newbuilding projects.