Zodiac Maritime is strengthening its ties to Dubai-based charterer BGN International, which has taken two midsize LPG carriers on one-year charters.
European gas carrier brokers said the 35,000-cbm Berkshire (built 2008) and Essex (built 2009) have been chartered out for $680,000 per month each.
For Eyal Ofer-controlled Zodiac, this appears a profitable deal. The diversified Monaco-based shipowner purchased the Berkshire in July 2018, when it was the Sanko Independence, for just $16m. The Essex is believed to have been with the company since it was new.
BGN already has one LPG carrier on time charter from Zodiac. It fixed the 80,200-cbm Dorset (built 2011) from Zodiac until next May at $850,000 per month.
Zodiac runs a mixed fleet including two VLGCs and four midsize carriers that are operated on a mix of period contracts and spot charters.
Rising rates for larger LPG carriers appear to be fuelling more action in the midsize market.
Geogas has chartered the 35,000-cbm Symi (built 2012) for six months at $700,000 per month from Eletson Corp, brokers said.
TradeWinds reported last month that Geogas had agreed to charter a midsize LPG carrier newbuilding from Eastern Pacific for three years.
Adnoc has reportedly taken the 37,000-cbm Marola (built 2003) from Carbofin for a year at $640,000 per month.
