IINO Lines and Borouge International Enter Long-Term Charter Agreement for Ice-Class Very Large Gas Carrier "Lumi Aurora"

（Joint News Release）

October 13, 2026
IINO Kaiun Kaisha, Ltd. / Borouge International

• The world's first Very Large Gas Carrier (VLGC) meeting Ice Class IB standards, equipped with an Liquefied Petroleum Gas (LPG) dual-fuel engine and shaft generator to reduce fuel consumption and emissions
• The long-term charter improves cost competitiveness of transatlantic feedstock shipments through reliable year-round operations.

IINO Kaiun Kaisha Ltd. (IINO Lines) commenced the deployment of the Ice Class IB VLGC Lumi Aurora under a long-term time charter contract with Borouge International, one of the world's leading polyolefins manufacturers.

The VLGC, which has a 93,000 m³ capacity, is the world's first vessel to meet  Ice Class IB standards*.  It will transport raw LPG from North America to Borouge International's petrochemical plant in Porvoo, Finland. Located on the Baltic Sea coast, Porvoo is affected by sea ice during winter, making navigation difficult for conventional VLGCs. As the vessel is designed according to Ice Class IB specifications, it is capable of navigating safely with the assistance of icebreakers. This will contribute to the efficiency of Borouge International's feedstock supply chain and ensure a stable year-round supply of feedstocks.

The vessel is the second VLGC to join Borouge International's chartered fleet, following Oceanus Aurora, an IINO Lines VLGC equipped with a dual-fuel main engine, that has transported LPG to Porvoo, Finland, and Stenungsund, Sweden, since 2023.

In addition, the vessel is equipped with a shaft generator motor that generates electricity by the rotation of the main propeller shaft. This reduces the consumption of fuel and lubricating oil used by onboard diesel generators, lowering emissions of nitrogen oxides (NOx), sulfur oxides (SOx), and carbon dioxide (CO₂).


Lumi Aurora

Thomas Van De Velde, Senior Vice President Base Chemicals Business Borouge International commented 
"Strengthening our ability to source competitive feedstocks from global markets supports our European base chemicals business, which is critical to maintaining our market position. This new Ice Class time charter ensures year-round supply chain flexibility and enhances cost competitiveness while also contributing to a lower environmental impact across our transportation activities."

Comment from Seiichi Fujimura, Managing Executive Officer, responsible for the Gas Carrier Department, IINO Kaiun Kaisha, Ltd.
"Drawing on our more than 60 years of experience in LPG transportation, we will continue to working toward our 2050 net-zero target by providing safe and reliable marine transportation while reducing our environmental impact through the introduction of state-of-the-art vessels. This is our second long-term charter contract with Borouge, and we are greatly honored to have the opportunity to build a strong and enduring partnership with the company."

End

* Ice Class IB is a classification under the Finnish-Swedish Ice Class Rules, which prescribe requirements for vessels operating in the Baltic Sea during winter. It is assigned to vessels capable of navigating light ice conditions with icebreaker assistance.

Media Contact:

Borouge International: Tel: +43 1 22 400 899 (Vienna, Austria) E-mail: media@borougeinternational.com

IINO Kaiun Kaisha, Ltd. Gas Carrier Department Contact Form: https://www.iino.co.jp/kaiun/english/contact/form/

About Borouge
Borouge Group International AG (Borouge International) is a global leader in polyolefins formed in 2026 through the combination of Borouge, Borealis and NOVA Chemicals. Backed by long-term shareholders XRG, the international investment arm of ADNOC, and OMV, Borouge International brings together world-class assets, advantaged feedstock access and proprietary technology to deliver reliable high-performance polyolefin solutions across consumer products, infrastructure, energy, mobility and advanced products.

Borouge International combines a differentiated asset base, global reach and deep technical expertise to serve customers across key growth markets. The company is headquartered in Austria, with a regional headquarters in Abu Dhabi and corporate hubs in North America and Asia Pacific.

Learn more about the company: https://www.borougeinternational.com/

About IINO Kaiun Kaisha, Ltd.
IINO Kaiun Kaisha, Ltd. ("IINO Lines") is a shipping company established in 1899 and headquartered in Tokyo. As a shipowner and operator specializing in the transportation of energy resources and related products, including crude oil, LNG, LPG, ammonia, petrochemicals, and dry bulk cargoes, the IINO Group provides transportation services worldwide. As of June 2026, the Group owns and operates a fleet of 86 vessels, comprising 10 oceangoing gas carriers, 21 domestic and coastal gas carriers, 33 chemical tankers, 19 dry bulk carriers, and 3 very large crude carriers (VLCCs).
The Group has accumulated more than 60 years of expertise in liquefied gas transportation since launching Japan's first pressurized domestic LPG carrier in 1960 and commencing transportation services using oceangoing LPG carriers in 1963. Since then, the Group has provided customers with safe and reliable transportation services for liquefied gases, including LPG, LNG, ammonia, and ethane, supported by advanced technical capabilities and high-quality vessel management developed through many years of experience and highly skilled professionals.

Under its medium-term management plan, Transformation for a Sustainable Future (April 2026 to March 2031), the IINO Group has set targets of reducing greenhouse gas emissions intensity by 20% by 2030 compared with FY2020 levels and achieving net-zero emissions by 2050. The Group is actively advancing its sustainability initiatives toward achieving these goals.

For more information, visit our website at https://www.iino.co.jp/kaiun/english/