UK-based Zodiac Maritime is strengthening its presence in the VLGC segment.
The Eyal Ofer-led company has bareboat chartered a 84,000-cbm newbuilding from a Japanese shipping company.
Gas players said Imabari-based Mizuho Sangyo has long-term chartered the vessel to Zodiac.
Details of the deal have not been disclosed but sources believe it is for at least seven years and includes a purchase option.
They added that the gas carrier will be fitted with scrubbers and is being built at Kawasaki Heavy Industries (KHI).
Zodiac is scheduled to take delivery at the end of this year.
It is understood that Zodiac has yet to line up employment for the vessel.
The VLGC newbuilding is the second gas carrier that Zodiac has taken from Mizuho.
Zodiac is currently operating the KHI-constructed, 80,000-cbm VLGC Hampshire (built 2007), which it has relet to trader Glencore for about $920,000 per month until August.
Zodiac is understood to have taken the ship on a long-term bareboat charter with a purchase option.
VLGC exit
In 2014, Zodiac was reported to be leaving the VLGC sector, as it was scaling down its fleet. At that time, it sold the 80,000-cbm Gas Beryl (ex-Devon, built 2010) to a Chinese buyer for $80m.
Zodiac was also reported to have sold the sistership Dorset to an unnamed buyer for $85m. But the deal failed on the buyer’s subjects.
Besides VLGCs, Zodiac also controls three midsize LPG carriers of which two are owned.
The owned vessels are the Hyundai Mipo-built, 35,200-cbm Berkshire and Cheshire (both built 2008) and the other is Orix Maritime’s 35,000-dwt Essex (built 2009).
Clarksons' Shipping Intelligence Network lists Zodiac with a diversified fleet of 154 vessels, including containerships, pure car/truck carriers, VLCCs, suezmax tankers, handymax chemical and product tankers, VLOCs and bulkers.
On the newbuilding front, it has seven 15,000-teu containerships under construction at Hyundai Heavy Industries. The Ulsan-based shipbuilder is slated to deliver three vessels this year and the others in 2021.
