Al Seer Marine and B International Shipping & Logistics have joined forces to create ASBI Shipping FZCO, a new joint venture focused on owning and operating mid-sized liquefied petroleum gas (LPG) tankers.
With two 22,000 cbm semi-refrigerated vessels chartered for 10 years, ASBI is positioned to meet the rising LPG demand in regional hubs and infrastructure-limited ports.
Strategic Joint Venture and Fleet Acquisition
ASBI Shipping FZCO was formed by Al Seer Marine, a subsidiary of IHC, and B International Shipping, part of the BGN group. The joint venture acquired two semi-refrigerated LPG vessels, Alkaid and Alcor, secured under a decade-long charter with BGN INT DMCC. This deal guarantees AED 660 million in revenue through 2035, highlighting the commercial strength of the partnership.
Financial Backing and Market Focus
Abu Dhabi Commercial Bank provided AED 210 million in secured term loans for the vessel purchase, reflecting confidence in ASBI’s business model. The vessels’ size and capabilities cater specifically to emerging LPG hubs across Africa, South Asia, and Southeast Asia—regions increasingly dependent on flexible mid-sized carriers due to port infrastructure limitations.
Growth Strategy and Market Opportunity
With growing demand for LPG transported via sub-30,000 cbm carriers rising 10% annually in Southeast Asia, ASBI plans to expand its fleet strategically. The partnership leverages decades of gas carrier expertise and focuses on a capital-efficient growth model that balances stable income with long-term asset value. ASBI aims to become a global leader in the mid-sized LPG tanker segment.
The formation of ASBI Shipping FZCO marks a key step in responding to the evolving global energy landscape by enhancing LPG logistics through flexible and efficient mid-size vessels. Supported by strong financial backing and expert partnerships, ASBI is well positioned to capture growth opportunities in key regional markets and support resilient commodity supply chains.
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Source: AI Seer Marine
