Nissen Kaiun in for HD Hyundai Mipo LPG brace

Japanese shipping giant Nissen Kaiun has made a significant move by returning to HD Hyundai Mipo Dockyard in Ulsan for the construction of two new LPR carriers. Each vessel, boasting a capacity of 45,000 cubic meters, has been contracted for an impressive price of $73.5 million, with delivery scheduled for 2027. This deal underscores Nissen Kaiun’s ongoing commitment to expanding its fleet, which already includes over 200 ships.

Expanding Fleet and Future Projects

Nissen Kaiun, a low-profile yet influential player in the maritime industry, is not just stopping at these two new carriers. The company is currently managing a considerable portfolio of more than 30 newbuilding projects. This includes a notable order from last year for four LPG/ammonia carriers, with capacities of 88,000 cubic meters, contracted at Yangzi-Mitsui Shipbuilding. Those vessels are set to be delivered between May 2028 and February 2029.

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In addition to its latest orders, Nissen Kaiun has previously been linked to another set of LPG newbuilds at Hyundai Mipo Dockyard. The shipowner also has a series of MR2 tankers lined up for delivery this year and the next, further demonstrating its robust growth strategy in the competitive shipping market. As the industry evolves, Nissen Kaiun’s proactive approach to fleet expansion positions it well for future opportunities.