Key Quantitative Figures

  • Vessel capacity: 82,000 cbm (Very Large Gas Carrier)
  • Vessel built year: 2015
  • Current owned fleet: 40 vessels totaling 3.24 million dwt
  • Tankers: 25 vessels (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers)
  • Dry Bulk Carriers: 15 vessels (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax)
  • Capacity utilization: Close to 100%

Dates and Timeline

  • Contract date: October 23, 2026
  • Expected delivery: Q3 FY27 (for VLGC)
  • Additional contracted acquisitions:
  • Two secondhand Kamsarmax dry bulk carriers expected in Q3 FY27
  • One new-building Suezmax tanker scheduled for delivery in second half of FY 2028-29

Financing and Capital Structure

  • VLGC acquisition to be financed entirely from internal accruals
  • No external financing or debt mentioned for this transaction

Purpose and Rationale

  • Stated purpose: Expansion of the fleet
  • Strategic focus on growing gas carrier segment alongside existing tanker and dry bulk operations

Current Fleet Composition

The company's owned fleet consists of:

  • Tankers (25 vessels):
  • 5 Crude Tankers
  • 16 Product Tankers
  • 4 LPG Carriers
  • Dry Bulk Carriers (15 vessels):
  • 2 Capesize
  • 10 Kamsarmax
  • 1 Ultramax
  • 2 Supramax

Additional Contracted Vessels

Beyond the VLGC acquisition, the company has:

  • Two secondhand Kamsarmax dry bulk carriers contracted (expected Q3 FY27)
  • One new-building Suezmax tanker contracted (expected second half of FY 2028-29)