Naftomar snaps up BP Shipping VLGC

Greece-based Lebanese gas ship owner Naftomar has acquired 2006-built VLGC British Commerce from BP Shipping, according to brokers.

Naftomar, which operates a fleet of 23 LPG ships, has reportedly paid $38m for the vessel. MSI eValuator puts the value of the ship at around $37.6m, and forecasts that the vessel could be worth as much as $39.5m by next year.

Naftomar was established in Beirut in 1972 as a trading house, and went on to open a chartering and shipmanagement office in Piraeus before making Greece its headquarters in 1992.

BP Shipping has been pruning back the size of its fleet a great deal in recent months.

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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