Outside the handful of pure-play VLGC giants, a second tier of LPG shipping companies moves a substantial share of the world’s seaborne LPG, often through diversified fleets that mix LPG with ethylene, ammonia, or petrochemical gas cargoes. These operators rarely top fleet-size league tables, but their regional reach, midsize tonnage, and specialist cargo handling make them essential to the wider LPG logistics chain.
For the largest dedicated Very Large Gas Carrier fleets, see our separate Top 10 VLGC Operators ranking. This list covers the companies operating alongside and beneath that top tier.
1. Seapeak
Seapeak, formerly Teekay LNG Partners, is one of the world’s largest independent owners of liquefied gas carriers. While best known for LNG, the company maintains a meaningful LPG and multi-gas carrier segment, backed by long-term charter relationships across the energy majors.
2. Maran Gas Maritime
The gas shipping arm of Greece’s Angelicoussis Group, Maran Gas Maritime has built a reputation for operational reliability and an actively expanding fleet. The company’s scale and backing place it among the more aggressive fleet-growth stories in the sector.
3. MISC Berhad
Malaysia’s MISC Berhad, closely linked to national energy company Petronas, runs a modern gas carrier fleet built around eco-design newbuilds. Its position within Petronas’s broader energy supply chain gives it consistent cargo volumes outside the open spot market.
4. GasLog Ltd.
Monaco-based GasLog operates an advanced fleet of cryogenic gas carriers with a strong technical management track record. Remote vessel monitoring and high safety-compliance standards have made the company a preferred counterparty for risk-conscious charterers.
5. Geogas Maritime
Geneva-headquartered Geogas Maritime specialises in small and midsize LPG and petrochemical gas carriers, a segment the VLGC-focused majors largely ignore. The company’s fleet serves regional distribution routes that large vessels cannot economically access.
6. Exmar
Belgian operator Exmar runs a fleet spanning LPG, ethylene, and petrochemical gas carriers, including technical management of dual-fuel newbuilds such as the Flanders Innovation. Exmar’s petrochemical gas expertise sets it apart from operators focused purely on LPG.
7. Hyproc Shipping Company
Hyproc Shipping Company, the maritime arm of Algeria’s state energy company Sonatrach, operates LPG and LNG carriers supporting Algeria’s gas export programme. The company illustrates how national oil and gas companies maintain captive shipping capacity rather than relying solely on the open charter market.
8. I.M. Skaugen
Norwegian operator I.M. Skaugen focuses on specialised small and midsize gas carriers for LPG, ethylene, and petrochemical cargoes. Its niche positioning in handysize tonnage fills a gap the VLGC fleet leaders don’t compete in.
9. K Line (Kawasaki Kisen Kaisha)
Japanese shipping major K Line operates a dedicated LPG carrier division alongside its broader energy transport business. The company’s gas carrier segment benefits from long-standing relationships with Japanese trading houses and utilities.
10. Pertamina International Shipping
The shipping arm of Indonesia’s state energy company, Pertamina International Shipping operates LPG carriers supporting one of Southeast Asia’s largest domestic LPG distribution networks. The company reflects the growing role national shipping arms play in securing energy security for fast-growing import markets.
How These Companies Differ From VLGC Specialists
Fleet diversification is the defining trait separating this group from the pure VLGC operators. Where BW LPG, Dorian, and Petredec concentrate almost entirely on large LPG carriers, the companies above typically mix LPG tonnage with ethylene, petrochemical gas, or LNG carriers, and several operate under state-backed or national-champion structures rather than as independent commercial fleets.
This diversification matters commercially: midsize and multi-gas operators serve regional distribution routes and niche cargo types that gas carrier safety standards body SIGTTO recognises as distinct from the bulk long-haul VLGC trade, giving these companies a structurally different competitive position rather than simply smaller scale.
What are LPG shipping companies?
LPG shipping companies own or operate vessels that transport Liquefied Petroleum Gas, ranging from small coastal carriers to Very Large Gas Carriers, often alongside ethylene, petrochemical gas, or LNG cargoes.
What’s the difference between an LPG shipping company and a VLGC operator?
VLGC operators specialise in the largest gas carriers above 70,000 cubic metres, while broader LPG shipping companies often run diversified, midsize, or multi-gas fleets serving regional and niche routes.
Do national oil companies operate their own LPG shipping fleets?
Yes – companies like Hyproc Shipping Company (Algeria) and Pertamina International Shipping (Indonesia) operate captive LPG fleets supporting national energy security and domestic distribution.
What cargoes do diversified gas shipping companies carry besides LPG?
Many operators in this group also carry ethylene, ammonia, and other petrochemical gases, using specialised midsize gas carrier tonnage.
Where can I find the largest pure VLGC fleets?
See our separate Top 10 VLGC Operators ranking for the companies focused specifically on large-scale dedicated LPG carrier fleets.