Geneva-based Gunvor Group is holding the long-term time charters for two of the remaining VLGC newbuild options taken by DryShips, according to people familiar with the matter.
Last month, the George Economou-led bulker and offshore vessel owner said it had "zero-cost" options to purchase up to four VLGCs being built at Hyundai Heavy Industry.
The ships, which are to be managed by TMS Cardiff Gas, "are going to be employed on long term charters to major oil companies and oil traders," according to a press release from DryShips.
DryShips already exercised one of those options with the $83.5m purchase of one VLGC to be delivered this June.
As reported in TradeWinds, Shell has chartered that ship for five years at $912,000 per month, with three-year options.
Of the three remaining options, two VLGCs to be delivered in the fourth quarter are reported fixed to Gunvor for 10-year periods. Another VLGC to be delivered in the third quarter is said to also be a Shell charter.
