Global Energy Trader BGN Strengthens International Supply Chains with New Mid-Size Tanker Fleet
Abu Dhabi, 2 June 2025 – B International Shipping & Logistics, an affiliate of top energy trader BGN, has partnered with Al Seer Marine, a subsidiary of Abu Dhabi’s International Holding Company (IHC), to launch a powerful new joint venture—ASBI Shipping FZCO. This strategic alliance brings together BGN’s global trading expertise and Al Seer Marine’s maritime leadership to address growing demand for flexible, mid-size LPG and product tankers in emerging markets worldwide.
International Expansion and Trusted Partnerships
BGN, with an 80-year heritage and operations in 120 countries, is recognised as a trusted and agile international energy trader. The company moves close to 50 million tons of commodities annually, supporting energy security and supply chain resilience across five continents. ASBI Shipping’s launch underscores BGN’s commitment to long-term, scalable partnerships that drive growth and innovation in global energy logistics.
Key Highlights of the ASBI Shipping Joint Venture
- New Fleet Acquisition: ASBI Shipping has acquired two 22,000 cbm semi-refrigerated LPG tankers, Alkaid and Alcor, tailored for regional trade in Africa, South Asia, and Southeast Asia.
- Long-Term Charter: The vessels are secured on a 10-year charter with BGN INT DMCC, guaranteeing AED 660 million (approx. USD 180 million) in revenue through 2035.
- Bank-Backed Financing: Abu Dhabi Commercial Bank (ADCB) has provided AED 210 million in senior secured term financing, reflecting strong confidence in the venture’s commercial viability.
- Expert Management: B International Shipping & Logistics, an affiliate of BGN, brings over 15 years of gas carrier expertise and currently manages 38+ vessels globally.
Meeting Global Demand for Flexible Energy Logistics
Mid-size LPG carriers like those in the ASBI Shipping fleet are essential for servicing ports with limited infrastructure—a growing need in Africa, South Asia, and Southeast Asia, where 30% of LPG shipments now rely on sub-30,000 cbm vessels. The global LPG tanker market is projected to grow at a 5.26% CAGR, reaching USD 411.76 million by 2033.
“Our charter with ASBI aligns with BGN’s focus on securing transition fuel supply chains. Smaller vessels are indispensable for ports lacking VLGC infrastructure, and we anticipate further collaborations,” said Rüya Bayegan, BGN Group CEO.
About BGN and Rüya Bayegan
BGN is a growing, partnership-based international trading business that covers multiple energy products, transition bridge fuels, including LPG (liquefied petroleum gas), and other commodities.
Building on an 80-year heritage, BGN has evolved from a regional company into a formidable global business with operations that span 120 countries. It moves towards 50 million tons of commodities annually for a double-digit billion-dollar turnover.
The company has offices in Geneva, the world’s commodity trading capital, Dubai, Casablanca, Doha, Houston, Rotterdam, and Singapore. Worldwide. Rüya Bayegan, honoured as Energy Woman of the Year at the Middle East Awards, leads BGN’s transformation into a global force, focusing on sustainable growth and energy transition solutions.
About B International Shipping & Logistics
B International Shipping & Logistics is affiliated with BGN and is an integral entity within the BGN group of companies. Specialising in the ownership, technical management, and commercial operation of gas carriers and product tankers, B International Shipping & Logistics leverages over 15 years of industry experience. The company manages a diversified fleet transporting LPG, petrochemicals, and dry bulk commodities across major global routes. As part of the BGN group of companies, B International Shipping & Logistics combines in-house maritime expertise with BGN’s energy trading capabilities to deliver safe, efficient, and environmentally responsible logistics solutions.
About Al Seer Marine
Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime leader headquartered in Abu Dhabi. The company offers a comprehensive portfolio of commercial shipping, yachting, boat building, and advanced maritime technologies. Al Seer Marine and B International Shipping & Logistics Launch New JV, securing AED 660 million LPG Charter Deal with BGN – Al Seer Marine
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