Exmar
Exmar is a Belgian shipping and floating infrastructure company that transports liquefied gases (LPG, ammonia, chemical gases) and operates FSRUs and FLNGs for major energy customers worldwide. It pioneered the world's first oceangoing ammonia dual-fuel vessels and is a long-term infrastructure partner at the Eemshaven LNG terminal in the Netherlands.
- Company typePrivate
- Founded1829
- HeadquartersAntwerpen, Belgium
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Exmar does
Exmar is a Belgian shipping and floating infrastructure company headquartered in Antwerp, Belgium, that has repositioned from a traditional shipping operator into a specialized energy supply chain provider. The company operates across four core business lines: EXMAR Shipping (transportation of liquefied gas products including LPG, butane, propane, anhydrous ammonia, and chemical gases under long-term charter contracts), EXMAR Infrastructure (floating storage regasification units (FSRUs), floating LNG (FLNG) solutions, and full-lifecycle project services for oil and gas customers), EXMAR Offshore Company (EOC) (engineering, design, and project services, including the patented OPTI series production semisubmersibles in operation in the Gulf of Mexico), and EXMAR Ship Management (24/7 technical and crewing services). The company also operates EXMAR LPG France and DV Offshore (DVO) as wholly-owned subsidiaries.
Exmar's technology base is anchored in specialized gas handling and emerging low-carbon propulsion. Its most significant innovation is the world's first oceangoing ammonia dual-fuel midsize gas carriers (MGC Antwerpen delivered June 2026, with Arlon and two additional 7,500 cbm vessels due through 2028), built by HD Hyundai Heavy Industries with WinGD X-DF-A two-stroke ammonia engines operating on approximately 95% ammonia and achieving up to 90% CO2 reduction versus conventional ships. The company has also co-developed IMO Interim Guidelines (with Lloyd's Register and the Belgian Federal Public Service) enabling ammonia cargo to be used as fuel on gas carriers. Connectivity is delivered through Inmarsat Maritime's NexusWave managed service across the fleet.
Exmar generates revenue primarily through long-term charter contracts for gas carriers, FSRU leasing and operations (most prominently the EemsEnergyTerminal partnership with Gasunie and Vopak at Eemshaven, Netherlands, expected to run until at least 2036 with ~190,000 cbm storage and 1,350 million scfd planned regasification capacity), FLNG and FSRU project services, professional marine services contracts (including Cedar LNG in Canada), managed ship-management services, and one-off vessel sales as part of fleet modernization (recently a $35 million profit on the sale of five LPG carriers). Customers are exclusively large energy enterprises, LNG terminal operators, and offshore gas developers, with no SMB or consumer-facing distribution.
Exmar firmographics
Firmographics- Name
- Exmar
- Legal name
- EXMAR
- Website
- https://exmar.be
- Company type
- Private
- Founded year
- 1829
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Exmar is a Belgian shipping and floating infrastructure company that transports liquefied gases (LPG, ammonia, chemical gases) and operates FSRUs and FLNGs for major energy customers worldwide. It pioneered the world's first oceangoing ammonia dual-fuel vessels and is a long-term infrastructure partner at the Eemshaven LNG terminal in the Netherlands.
- Ownership category
- akta.pro rank
Where Exmar is headquartered
LocationHeadquarters
- HQ city
- Antwerpen
- HQ country
- Belgium
- HQ region
- Europe
Offices2 records
Markets served
Exmar business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Shipping and Chartering Services: EXMAR operates a fleet of specialized gas carriers providing transportation services for liquefied gas products (LPG, butane, propane, anhydrous ammonia, chemical gases) under long-term charter contracts to energy companies.
- Floating Infrastructure Leasing and Operations: EXMAR provides floating infrastructure solutions including FSRU leasing, operations and maintenance for LNG terminals, covering the entire project lifecycle from development studies to operations.
- FLNG and FSRU Project Services: Exmar pursues new FLNG and FSRU projects including pioneering newbuilding projects involving LNG and ammonia, providing marine services for LNG facilities.
- Vessel Sales: EXMAR generates proceeds from selling older vessels as part of fleet modernization program, with recent sale of five LPG carriers expected to generate $35 million profit.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom chartering arrangements |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Exmar product offering
Product offeringCore offering
EXMAR is a maritime group that transports liquefied gases (LPG, butane, propane, ammonia, and chemical gases) under long-term time charters, leases and operates Floating Storage Regasification Units (FSRUs) for LNG import terminals, provides ship-management services to third-party owners, and delivers offshore engineering solutions through its proprietary OPTI-Series semisubmersibles. Customers are primarily international energy majors, national oil companies, gas traders, and offshore project developers.
Product overview
EXMAR is a provider of floating solutions for the operation, transportation and transformation of gas. The company operates a diversified portfolio comprising EXMAR Shipping (liquefied gas transportation of LPG, butane, propane, ammonia and chemical gases), EXMAR Infrastructure (floating infrastructure for oil & gas projects), EXMAR Ship Management (technical and crewing services), and EXMAR Offshore Company (engineering and design of OPTI semisubmersibles). The fleet includes four ammonia dual-fuel midsize gas carriers (Antwerpen, Arlon, and two more 7,500 cu m vessels expected 2027-2028) representing the world's first ocean-going ammonia-powered vessels. FSRU services support LNG terminal operations including the Eemshaven facility in the Netherlands, while EXMAR LPG France operates the LPG carrier fleet and DV Offshore provides offshore project services.
Differentiator
Problem solved
Functional benefit
Brands
- EXMAR Shipping: Leading player in transportation of liquefied gas products (LPG, butane, propane, anhydrous ammonia and chemical gases).
- EXMAR Infrastructure
- EXMAR Offshore Company (EOC)
- EXMAR Ship Management
- EXMAR LPG France
- DV Offshore (DVO)
Products and services
- Liquefied Gas Transportation Services Long-term time-charter shipping of liquefied petroleum gas (LPG), butane, propane, ammonia and chemical gases, including oceangoing ammonia dual-fuel newbuild carriers, for international energy majors, national oil companies and gas traders.
- FSRU Leasing and Operations Mid- to long-term lease, regasification and operations of Floating Storage Regasification Units for LNG import terminal operators and utility-scale LNG offtakers.
- Ship Management Services Technical and crew ship-management services for third-party owners of gas carriers and offshore vessels.
- OPTI-Series Offshore Engineering and Chartering Chartering of the proprietary OPTI-Series of motion-compensated semisubmersibles and related offshore engineering services for heavy-lift, accommodation and offshore-project work, delivered through EXMAR Offshore Company (EOC) and the DV Offshore (DVO) joint venture.
- Ammonia Dual-Fuel MGC Fleet Chartering Chartering of newly built oceangoing ammonia dual-fuel medium gas carriers, forming part of EXMAR's first-mover program in ammonia-powered gas transport.
Quantifiable outcome
- Up to 90% GHG emissions reduction with ammonia dual-fuel vessels
- +3 more outcomes
Companies that use Exmar
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Exmar technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
Exmar partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and flagship.
- EemsEnergyTerminal (Gasunie and Vopak)coreConversion works commenced for new FSRU destined for expansion of EemsEnergyTerminal in the Netherlands. The converted FSRU will join existing Eemshaven LNG facility with combined storage capacity of approximately 190,000 cbm and regasification capacity of 1,350 million scfd. Terminal celebrated 200th LNG carrier arrival in March 2026.
- HD Hyundai Heavy Industries (HHI)coreHHI constructed the world's first ammonia-powered gas carrier vessels (Antwerpen and Arlon) for Exmar LPG France, featuring proprietary cargo tank technology and selective catalytic reduction systems. HHI secured orders for eight ammonia-powered vessels from companies including Exmar and Trafigura.
- WinGDcoreWinGD's ammonia-fueled X-DF-A two-stroke marine engine became first to complete Type Approval Testing, installed on 52-bore engine for 46,000m3 LPG/ammonia carrier operated by EXMAR. Engine operates on approximately 95% ammonia with around 30 engine orders booked across vessel segments.
- Cedar LNGcoreExmar signed a deal to provide marine operations services for Cedar LNG's Indigenous-majority-owned floating LNG facility in Canada, advancing the project's development.
- Lloyd's RegisterflagshipCollaboration with Lloyd's Register and Belgian Federal Public Service for Mobility and Transport developed safety guidelines enabling use of ammonia cargo as fuel on gas carriers. Guidelines finalized at IMO's CCC 11 and expected for formal approval at MSC 111 in May 2026.
- Belgian Federal Public Service (FPS) for Mobility and TransportflagshipJoint development of interim guidelines for using ammonia cargo as fuel on gas carriers. Collaboration culminated in safety guidelines finalized at IMO's CCC 11, providing regulatory pathway for ammonia-fuelled vessel designs.
- EemsEnergyTerminal (Gasunie and Vopak)coreStrategic partnership with EemsEnergyTerminal, a joint venture of Gasunie and Vopak, to support extended LNG terminal operations at Eemshaven, Netherlands. Agreement involves chartering two FSRUs including converted LNG carrier to maintain approximately 190,000 cbm storage capacity with direct access to Dutch TTF gas market until at least 2036. Subject to positive final investment decision.
- GasuniecorePartnership with Gasunie (joint venture partner with Vopak in EemsEnergyTerminal) for FSRU operations supporting Eemshaven LNG terminal extension and Europe's energy supply diversification until at least 2036.
- VopakcorePartnership with Vopak (joint venture partner with Gasunie in EemsEnergyTerminal) for FSRU operations at Eemshaven LNG terminal providing approximately 190,000 cbm storage capacity with access to Dutch TTF gas market.
Scale indicators8 records
Recent moves8 records
Expansion highlights5 records
Exmar competitors and assessment
Company assessmentBroad incumbents
- Mitsui O.S.K. Lines (MOL): MOL is one of Japan's largest shipping conglomerates with a substantial LNG carrier division and growing ammonia-fueled newbuild program. A broad incumbent competing with Exmar across multiple gas shipping segments, though Exmar is more specialized in floating infrastructure.
Direct peers
- Stolt-Nielsen: Stolt-Nielsen operates one of the world's largest fleets of sophisticated chemical and gas tankers (Stolt Tankers), serving the same niche liquefied gas and chemical transportation market as Exmar Shipping.
- Navigator Holdings: Navigator Holdings operates a fleet of LPG and petrochemical gas carriers with ethylene-capable vessels, directly overlapping with Exmar Shipping's liquefied gas carrier business serving similar energy and petrochemical customers.
- Anthony Veder: Anthony Veder is a Dutch-based operator of LPG and chemical gas tankers with a comparable mid-size fleet serving European and global energy customers. Closest geographic and operational peer to Exmar Shipping.
- Awilco LNG: Awilco LNG owns and operates LNG carriers with both trading and FSRU capability, comparable in scale and business model to Exmar's combination of gas carrier operations and floating infrastructure services.
- Golar LNG: Golar LNG is a leading FSRU and FLNG specialist with a comparable floating LNG infrastructure franchise. Most direct competitor to Exmar Infrastructure's FSRU leasing and operations business, competing for the same LNG import terminal projects globally.
- Höegh Evi (formerly Höegh LNG): Höegh Evi operates one of the world's largest FSRU fleets and offers floating LNG import solutions. Direct competitor to Exmar in FSRU chartering and operations, with comparable long-term terminal contracts in Europe and emerging markets.
- Dorian LPG: Dorian LPG is a pure-play VLGC operator transporting LPG worldwide, providing direct comparable economics in the LPG carrier segment of Exmar's shipping business.
- BW LNG: BW LNG is a Singapore-based LNG carrier and FSRU operator with a modern fleet including newbuilds. Comparable to Exmar in providing both LNG transportation and floating regasification infrastructure to energy companies and terminal operators.
- Cool Company (CoolCo): Cool Company is an LNG carrier owner-operator with a modern, fuel-efficient fleet serving long-term charters to energy companies, comparable to Exmar's LNG and gas carrier chartering business.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Customer concentration
Exmar social profiles
Digital presenceExmar compliance and trust
Trust signalCompliance1 record
Exmar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Exmar leadership team
Management profileNumber of profiles
Profiles3 records
Exmar subsidiaries and ownership
Company hierarchySubsidiaries6 records
Exmar funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Exmar M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Exmar
What does Exmar do?
EXMAR is a maritime group that transports liquefied gases (LPG, butane, propane, ammonia, and chemical gases) under long-term time charters, leases and operates Floating Storage Regasification Units (FSRUs) for LNG import terminals, provides ship-management services to third-party owners, and delivers offshore engineering solutions through its proprietary OPTI-Series semisubmersibles. Customers are primarily international energy majors, national oil companies, gas traders, and offshore project developers.
Is Exmar a public or private company?
Exmar is a private company. It is classified as public and is currently operating.
When was Exmar founded?
Exmar was founded in 1829. It employs 501 to 1,000 people.
Where is Exmar based?
Exmar is headquartered in Antwerpen, Belgium, in the Europe region.
How does Exmar make money?
Four revenue lines are on record. Shipping and Chartering Services are the primary driver. The others are floating Infrastructure Leasing and Operations, FLNG and FSRU Project Services and vessel Sales.
Who are Exmar's main competitors?
Mitsui O.S.K. Lines (MOL) is listed as a broad incumbent. Direct peers are Stolt-Nielsen, Navigator Holdings, Anthony Veder, Awilco LNG, Golar LNG, Höegh Evi (formerly Höegh LNG), Dorian LPG, BW LNG and Cool Company (CoolCo).
Does Exmar have an API?
No public API is recorded for Exmar.