Eyal Ofer’s Zodiac Maritime has boosted its tanker fleet with an order for two dual-fuelled aframax product carriers.
The London-based company has contracted New Times Shipbuilding in China to construct the 115,000-dwt LR2 tankers for delivery from 2027.
One shipping source said the contract was signed a few months ago but it was not reported at the time.
The price has not yet emerged, but brokers suggested the ships would cost around $75m each.
Zodiac is believed to have ordered them as part of its fleet expansion and renewal programme.
“These vessels, being equipped with LNG dual-fuel propulsion, are expected to service the European Union market, which is going to be impacted by a raft of new environmental regulations in the next few years, such as FuelEU,” the source said.
The latest deal lifts Zodiac’s tally of LR2 newbuildings to four.
Last year, it commissioned Yangzijiang Shipbuilding to build two scrubber-fitted tankers ships at a reported price of more than $60m each, to be delivered next year.
Zodiac has doubled the number of ships in its managed fleet during the past decade, and the fleet’s deadweight has tripled in that period.
A diversified shipping company, it has a fleet of around 150 vessels, including container vessels, bulkers, gas carriers and tankers.
Clarksons’ Shipping Intelligence Network lists Zodiac with 38 tankers ranging from handysize chemical carriers to VLCCs, of which five are LR2s.
VesselsValue shows the company has been active in the shipbuilding market for the past 10 years, but its investments were mainly in car carriers and container ships.
In 2018, Zodiac acquired three LR2 tankers from Toisa group for $42m each: the 114,400-dwt Hanover Square (ex-United Mariner), Cobalt Sun (ex-Nikos Kazantzakis) and Tavistock Square (ex-United Nomad, all built 2019).
Clarksons lists Zodiac with 25 newbuildings under construction in China, Japan and South Korea.
Japan Marine United is building two suezmax tankers, while Fukuoka Shipbuilding is constructing three 19,900-dwt stainless steel chemical tankers.
Hanwha Ocean in South Korea is building 10 LNG dual-fuel, 15,600-teu container ships to be delivered between the end of this year and 2025.
China’s Yantai CIMC Raffles Offshore is constructing six dual-fuel 7,000-ceu pure car/truck carriers for delivery next year.
