Large Gas Carriers

We operate a fleet of mainly large gas carriers fitted with special equipment such as refrigeration tanks and compressors to transport liquefied gases such as LPG (liquefied petroleum gas) and LNG (liquefied natural gas).

IINO Group's business history of large gas carriers began in 1963 with the delivery of TOYOSU MARU, an oceangoing large LPG carrier, and the company has been a pioneer in the industry. Our safe and stable transportation services, backed by our long history, experience, and technological capabilities, have earned us a high reputation among customers in Japan and overseas, and we are developing a wide range of business centered on medium- to long-term contracts.

In LPG transportation, we are taking advantage of our extensive experience as a pioneer in the industry to serve as an LPG marine pipeline connecting countries around the world, including transportation to the Far East, including Japan, a major importer, and India and Southeast Asia, where demand is growing.

Even amid the trend toward decarbonization, LNG is expected to continue to play a role as a base fuel due to its economic and environmental advantages, and the volume of LNG transported by sea is increasing along with the progress of LNG development projects around the world. IINO Group has participated in LNG transport projects not only to Japan but also between the three countries since early on, and since 2005, we have been managing our own LNG carriers, SK SUNRISE, for overseas charterers to accumulate experience and expand our LNG transport business.

In the mid-term management plan, we expect demand for gas transportation to increase in the future as decarbonization accelerates, and have positioned the oceangoing gas carrier business as a growth and new business. We intend to utilize our accumulated knowledge and management expertise in liquefied gas transportation to further enhance our experience and technology in handling ammonia, one of the candidates for next-generation fuels, both as cargo and as fuel, and to promote our efforts to realize decarbonization.

In November 2022, we signed long-term contracts for our first two liquefied ethane carriers. Ethane is used in the production of ethylene, a raw material for plastics and other chemical products. Ethane is a chemical raw material that is attracting attention because it is cheaper and more environmentally friendly than naphtha derived from crude oil, the conventional raw material for ethylene. Both vessels are equipped with environmentally friendly propulsion engines that can use ethane as fuel, and are scheduled to be delivered in the second half of 2025 or later.

In addition, the large LPG carriers CALLUNA GAS and OCEANUS AURORA were completed in February 2022 and March 2023, respectively, equipped with dual-fuel diesel engines that can use LPG as fuel in addition to conventional fuel oil. LPG, which is used as fuel for both vessels, is a safe and environmentally friendly clean energy source that can significantly reduce emissions of carbon dioxide (CO₂), sulfur oxides (SOx), and nitrogen oxides (NOx) compared to conventional heavy oil. Both vessels are state-of-the-art vessels that anticipate and adapt to the more stringent carbon dioxide emission regulations that will be applied to large gas carriers and other vessels with construction contracts signed after 2022.

As another new initiative, a long-term charter contract for a 93,000m³ Ice Class large LPG carrier, scheduled for delivery between January and March 2027, has been signed. This will be our third large LPG carrier with a dual-fuel LPG main engine.