Busan-based IOB Co. Ltd. says it has begun operations managing four Arc4 ice-class liquefied natural gas (LNG) carriers. The South Korean company specializes in managing vessels intended for Arctic shipping along Russia’s Northern Sea Route.

The fleet comprises North Moon, North Light, North Ocean and North Valley, each with a cargo capacity of approximately 174,000 cubic meters. The vessels were built by Hanwha Ocean in 2024 and 2025 for Mitsui O.S.K. Lines, according to available fleet information.

Under its announced fleet roadmap, IOB plans to bring three to six Arc7 ice-class LNG carriers under management in 2027, followed by additional Arc7 newbuildings from 2028. These remain planned additions, and the company has not publicly identified the vessels involved.

IOB says its services include technical maintenance, marine operations, safety and quality management, and crew management. Its expansion plans come amid sanctions-related difficulties affecting specialized vessels intended for Russian Arctic LNG projects, leaving uncertainty over which ships will join its future fleet.