Petredec operates 19 Very Large Gas Carriers with an average fleet age of six years — against an industry average of 11 — backed by $3bn invested in cleaner shipping technology since 2020. The London-headquartered group positions itself not as a ship owner or logistics provider alone, but as an LPG value chain company spanning VLGC ownership, supply chain logistics, and onshore import infrastructure in emerging markets.
Petredec Company Overview
Petredec Group has operated in the LPG sector for nearly 50 years, with its commercial shipping and logistics activities consolidated under Petredec Global. The group’s focus is exclusively LPG — from VLGC ownership through to onshore terminal development in markets where imported LPG fills critical energy access gaps.
That positioning distinguishes Petredec from pure-play shipowners and commodity traders. As CCO Jonathan Fancher has stated, the group considers LPG shipping and product supply/demand fundamentals uniquely interlinked — a structural view that shapes how it builds fleet capacity, selects trade routes, and develops ground infrastructure.
The group’s operational model includes floating infrastructure networks deployed wherever LPG is supplied and demanded, with an explicit mission to unlock logistical bottlenecks in underserved markets.
The Petredec VLGC Fleet
Petredec’s 19-vessel fleet is structured across four generations, all fully refrigerated. The newest vessels — Hannibal (2024) and the six-vessel Hyperion-class series (2023) — are 93,000 cbm dual-fuel newbuilds constructed at Jiangnan Shipyard in China. These represent the current industry standard for large-scale LPG transportation.
The 2020 generation — Red Marauder, Red Rum, Reference Point, and Roberto — are 84,000 cbm ECO-specification vessels fitted with scrubbers, also built at Jiangnan. The Panamax generation comprises Pinza (2018) and Parthia (2017), at 78,700 cbm, constructed at Hyundai Heavy Industries in South Korea.
The earlier ECO fleet — Sansovino, Secreto, Shaamit, Shergar, Silvio, Sinndar, and Sunstar, all 2016 HHI builds at 84,000 cbm — rounds out the fleet. The six-year average age reflects consistent investment in newbuilds rather than second-hand tonnage acquisition.
Dual-Fuel Technology and Environmental Investment
The $3bn investment since 2020 covers fleet renewal and the integration of dual-fuel propulsion on the newest vessels. The 93,000 cbm newbuilds are capable of running on LPG as fuel — a technology configuration that reduces emissions relative to conventional HFO operation and positions the fleet for incoming IMO 2030 carbon intensity requirements.
Scrubber technology across the 2020 generation provides compliance flexibility on sulphur emissions for vessels operating on conventional fuel. ECO-specification hull and engine design runs through all post-2016 additions. The fleet’s youth means that retrofitting costs are limited and the vessels are already aligned with the direction of regulatory travel.
LPG Logistics and Onshore Infrastructure
Beyond VLGC ownership, Petredec develops onshore import infrastructure in emerging markets — a differentiator from most independent shipowners. Floating infrastructure networks are deployed across supply and demand nodes, with the group’s stated objective being to remove logistical barriers to LPG access.
This onshore development component places Petredec closer to the terminal operator and logistics provider model than a conventional shipowner. For procurement and project development professionals in those markets, Petredec functions as both freight carrier and infrastructure partner — a model with parallels to the integrated logistics approach seen in Stolt-Nielsen‘s tanker and terminal operations.
LPG as a Global Energy Carrier in 2026
Global LPG demand is concentrated in Asia, Africa, and Latin America, where it serves as a cooking and heating fuel in markets transitioning away from biomass and coal. LPG burns significantly cleaner than both, and its infrastructure requirements — import terminals, floating storage, distribution logistics — are substantially lower than those of piped natural gas or LNG storage infrastructure.
The dominant trade route remains the Middle East Gulf to Asia corridor, with US Gulf Coast exports to Europe and Asia growing in volume as American LPG production has scaled alongside shale output. The global VLGC fleet numbers approximately 400 vessels — Petredec’s 19-vessel position represents a meaningful independent stake in that market.
The energy access angle distinguishes LPG from other gas commodities that dominate coverage of marine energy infrastructure. Unlike the large-scale capital programmes associated with floating LNG infrastructure, LPG import logistics can be deployed at smaller scale and faster lead times — making it a practical energy access tool in markets that cannot yet support LNG-scale investment.
Petredec Company Snapshot
| Company | Petredec Global |
|---|---|
| Parent Group | Petredec Group |
| Headquarters | London, UK |
| Years in Operation | Nearly 50 |
| Fleet Size | 19 VLGCs |
| Average Fleet Age | 6 years (industry average: 11 years) |
| Investment (2020–present) | $3bn in cleaner shipping |
| Vessel Type | Very Large Gas Carrier (VLGC), fully refrigerated |
| Propulsion Technology | Dual-fuel LPG (newest generation); ECO + scrubber (2020 generation) |
| Shipbuilders | Jiangnan Shipyard (China); Hyundai Heavy Industries (South Korea) |
| Core Business | VLGC ownership, LPG logistics, onshore import infrastructure |
| Key Markets | Asia, Africa, Latin America; Middle East–Asia and US Gulf–Asia trade routes |
What does Petredec specialise in?
Petredec specialises exclusively in LPG — operating as a VLGC shipowner, logistics provider, and onshore import infrastructure developer. The group describes itself as an LPG value chain company rather than a conventional shipowner or commodity trader.
How many VLGCs does Petredec operate?
Petredec operates 19 Very Large Gas Carriers as of its most recent company disclosure (November 2025). The fleet spans four generations from 2016 through 2024, with vessel sizes ranging from 78,700 cbm to 93,000 cbm.
What makes Petredec’s fleet environmentally distinctive?
Petredec has invested $3bn in cleaner shipping since 2020. Its newest vessels are dual-fuel capable, able to run on LPG as propulsion fuel. The 2020-generation vessels are scrubber-fitted, and ECO hull specifications apply across all post-2016 additions. The fleet’s average age of six years — against an industry average of 11 — limits retrofit requirements.
What is Petredec’s role in emerging market LPG supply?
Beyond VLGC ownership, Petredec develops onshore import infrastructure and floating infrastructure networks in markets where LPG fills energy access gaps. The group’s stated mission is to unlock logistical bottlenecks and bring cleaner energy to markets currently reliant on biomass or coal for cooking and heating.
Who are Petredec’s main competitors in the VLGC and LPG logistics sector?
The principal independent VLGC operators include BW LPG, Dorian LPG, Avance Gas, and Navigator Gas. Stolt-Nielsen operates in adjacent liquid and gas logistics with terminal infrastructure components. The global VLGC fleet totals approximately 400 vessels, with Petredec’s 19-vessel fleet representing a significant independent position.