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Zodiac Maritime acquires MOL ore carrier

Photo of Grant Rowles Grant RowlesMay 27, 2019
50 Less than a minute

Eyal Ofer’s Zodiac Maritime has swooped to acquire 2004-built 233,600 dwt ore carrier Pacific Glory, according to brokers.

Seasure Shipbroking and Advanced Shipping & Trading are reporting that Zodiac has paid around $14.5m to Japan’s Mitsui OSK Lines (MOL) for the Imabari-built vessel, which was put up for sale last month.

The price is significantly lower than the VesselsValue valuation of $16.9m, likely down to a special survey due imminently.

MOL is replacing the vessel with two newuild 240,000 dwt ships from Imabari, one of which has been delivered this year and the other scheduled to deliver within months.

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Photo of Grant Rowles Grant RowlesMay 27, 2019
50 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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