Petradec is continuing to expand its VLGC fleet ordering two newbuildings plus an option for two more from Hyundai Heavy Industries (HHI).

BW Group has bought 6m shares in VLGC competitor Dorian LPG in a transaction with Scorpio Tankers.

Stealthgas has reported a slight dip in profits in the first quarter despite increased revenues, as it stays in the black during a difficult time for the LPG sector.

Mitsubishi Heavy Industries (MHI) has bagged an order for a fourth VLGC destined for charter by Astomos Energy Corp.

Milaha has reported a 10% increase in profit to QAR1bn ($274m) as a strong performance from its tanker business offset profit drops in its logistics and offshore businesses.

Kuwait Oil Tanker Company (KOTC) is moving ahead with its Phase IV newbuild programme, which envisages delivery of up to eight new tankers by 2017-18.

Stealthgas has reported a drop in Q3 profits from $4.1m last year to $2.5m in 2014 as LPG demand slipped during a warm season for Europe.

The crude tanker market may be struggling this year but 2014 has been a gravy train for VLGCs.

Astomos Energy ordered a third VLGC from Mitsubishi Heavy Industries (MHI).

The global chemical tanker market is expected to remain challenging over the next few years due mainly to a lack of demand and freight rates staying at below profitable levels, according to Niels G Stolt-Nielsen, ceo of Stolt-Nielsen Limited.