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Editor in chief: Angelo Scorza
09/04/18 10:52

Carboflotta sells gas tanker Solaro

The old dating LPG tanker was finally sold to Great Eastern Shipping

Genoa-based Carboflotta finally sold the oldest unit in fleet, 25,000 DWT medium range gas carrier Solaro, specialized in LPG transport and boasting 37,000 cubic metres capacity (built in Italy in 1996).

“We just negotiated with Great Eastern Shipping Company” the sale of this unit, told  Ship2Shore Enrico Filippi, President of Carbofin, and also controlling Genoa-based shipowning group with his cousin Enrico Telesio, Managing Director of the company.

From the sale of gas tanker Solaro, Carboflotta will earn 8.2 million dollars while the ship will be transferred to the new ownership next Mary in Singapore.

After the recent resale purchasing of 38,000 cubic metres gas carrier Enrico Fermi, built at South Korean Hyundai Heavy Industries shipyard, Genoa-based group's fleet refurbishment has moved ahead, although being currently operating in a decidedly ailing market: “Since 2015 – states Filippi – freight rates were halved and, in parallel, the second-hand market dropped” 

In 2016, the market price of a ship holding characteristics like the Solaro ranged around 20 million dollars.

“This is particularly due to the oversupply which affected the GPL segment, a niche-market which used to be served by roughly 70 units and is currently engaging almost 100 gas tankers, which  caused a drastic drop in freight rates and older ships' market value”.

Francesco Bottino

TAG : Gas