Eyal Ofer’s Zodiac Maritime is taking advantage of the current low prices for bulker tonnage to renew the company’s fleet of large bulkers.
The Monaco-headquartered shipowner has just bought the only capesize in the fleet of Italy’s Giuseppe Bottiglieri.
The 175,000-dwt Giuseppe Bottiglieri (built 2011), which is due for special survey in December, has gone for $15.7m, according to European brokers.
The price is slightly lower than expected.
VesselsValue says the New Times Shipbuilding-constructed vessel is worth $17.2m, while Maritime Strategies International forecast a fourth-quarter price of $21.5m.
The deal has emerged after brokers said Greece's Tsakos Group tied up the 175,000-dwt ER America (built 2010) for a higher price of $20.5m.
However, the Daewoo Mangalia-built ship has passed special survey this year and is scrubber fitted.
In another recent transaction, German owner Salamon has fetched a little less than $15m for the Jinhai-built, 175,000-dwt Pacific Queen (built 2010), brokers said.
Highly diversified Zodiac is now listed with 23 capesizes and three VLOCs. In addition to bulkers, the company also owns crude tankers up to VLCC size, product and chemical tankers, LPG carriers and car carriers.
The Giuseppe Bottiglieri is the latest purchase by Zodiac since July, when the company bought the 181,000-dwt bulker Jubilant Excellence (built 2013) from Japan’s Nissen Kaiun.
This Koyo Dock-built ship, which has been renamed Cape Excellence, changed hands for $24.5m.
Brokers said this bulker is now worth $900,000 more as a result of the rise in bulker prices.
Clarksons lists Zodiac as having a fleet of 152 vessels, totalling 16.2m dwt.
