Gunvor forms JV with Solvang for five carbon capture-ready VLGCs

Swiss-based commodity trading giant Gunvor has formed a joint venture with Norwegian gas shipowner to own and operate five LPG carrier newbuilds designed for onboard carbon capture.

The JV has placed an order at South Korea’s Hyundai Heavy Industries with deliveries scheduled from September 2026 to July 2027. All five vessels will be on long-term charter to Gunvor’s chartering arm Clearlake Shipping.

“Gunvor’s partnership with Solvang demonstrates our commitment to investing in the future of shipping, with the latest, most environmentally responsible vessels,” said Frédéric Meeus, member of Gunvor’s executive committee and head of naphtha and LPG. “This JV also underscores Gunvor’s expanding presence in the growing global LPG market.”

The VLGC newbuilds incorporate environmental technology developed through 12 years of Solvang’s “ECO LPG Carrier” program. The package includes hull optimisation, shaft and propeller improvements, exhaust gas recirculation, and an open-loop scrubber designed by Wärtsilä. Accordingly, the newbuilds will be ready for zero emission technology – the carbon capture system currently being installed for testing onboard Solvang’s vessel Clipper Eris.

The new vessels will have a capacity of 88,000 cu m, which is the largest LPG load currently able to transit through the old Panama Canal, and the vessels will be the largest of the existing VLGCs in the Solvang panamax fleet.