Norway Country Report

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Aurora fires up new vessels for Asian LPG delivery

PUBLISHED : Friday, 04 December, 2015, 4:47pm
UPDATED : Wednesday, 23 March, 2016, 5:09pm

An energy-efficient fuel source with lower carbon emissions and widespread residential, commercial and industrial applications, liquefied petroleum gas (LPG) is a multibillion-dollar industry forecast to reach US$100.2 billion in the Asia-Pacific by 2019. Aurora LPG, an up-and-coming market leader in safe, flexible and cost-effective premium LPG transport solutions, will be launching six new very large gas carriers (VLGCs) next year - ensuring broader service to accommodate the region's growing LPG needs.

"We are a young company, but at the same time extremely focused on high-quality, cost-efficient and profitable operations with quality-driven customers," says Børge Faanes Johansen, CEO. "At present, we trade in the spot market on a cargo-by-cargo basis and enjoy good rates - but in time we aim to become a major shipping provider in the LPG space by growing our fleet and partnering up with the right people for the long term to expand our market presence."

Headquartered in Oslo, Norway, and founded last year, Aurora LPG operates three modern VLGCs and caters to international energy traders, particularly from Japan and South Korea, two of the largest markets for LPG imports.

The company works with several Asian companies such as Astomos Energy, E1, InterOil, SK Gas, FMC, Adgas and Saudi Aramco, and now seeks to collaborate with energy traders and investors from China - the country with the highest growth potential for LPG imports, which are prioritised under its 12th five-year plan.

"Partnering means using your shipping assets more efficiently to collaboratively create flexible shipping solutions, and I believe that is the way to move forward," Johansen says. "The next five to 10 years will be a very interesting time for LPG, as more energy consumption shifts from oil to gas, and we are in a very good position to grow and stay profitable. We've come a long way since we started out a year ago."

Aurora LPG