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Aygaz tipped as buyer of Komaya ship through Vitol option to buy

Turkish LPG owner Aygaz is being linked to a vessel from trader Vitol as it continues to expand its fleet.

Vitol has had the 11,000-cbm Knightsbridge (built 2009) on charter with a purchase option from Singapore-based Komaya Shipping. It is now said to have declared the option and sold it on to Aygaz.

The price of the transaction has not been revealed but sources claim the Turkish owner is paying $26m to $27m for the ship, some $5m less than the optional price from the Singaporean owner.

Aygaz, Vitol and Komaya have previously been involved in similar business. In December 2011, Vitol declared a purchase option for the 11,000-cbm Kensington (built 2008) from Komaya and then sold it on to Aygaz for in excess of $30m. It now sails in the Aygaz fleet as Beylerbeyi. The Turkish owner is listed with three LPG carriers. Komaya is primarily a tonnage provider for Vitol.

Activity in smaller sizes

In the smaller sizes, Eni continues to be active in the chartering market and has taken two units from Norway’s IM Skaugen. The 5,800-cbm semi-refrigerated/ethylene carriers Norgas Camilla and Norgas Cathinka (both built 2010) are both believed to have been fixed for a year at $380,000 per month. In 2014, the Norgas Cathinka was reported fixed for a year at $420,000 per month. Eni has also taken the 9,000-cbm ethylene carrier PGC Aratos (built 2003) from Paradise Gas Carriers in a deal for six months at an undisclosed rate.

Carib LPG is also busy taking two pressurised ships. The 6,300-cbm York (built 2000) is said to have been fixed for two years at $330,000 per month and the 7,200-cbm Epic Bolivar (built 2002) for a year, probably at the same rate.

Sources say Marubeni has fixed the 6,500-cbm semi-refrigerated Gaschem Shinano (built 2007) for a year at an undisclosed rate.

Meanwhile, Fareast Shipmanagement has sold the 6,500-cbm pressurised Windsor (built 1996) to a Turkish buyer for $4.75m.

Source : TradeWinds