SPM Shipping has entered the gas shipping segment with a $91m acquisition of a very large gas carrier (VLGC), according to Splash247. The Dubai-based shipowner has been named as the buyer of Dorian LPG's 2015-built, 84,000 cu m Clermont, a vessel built by Hyundai Samho. VesselsValue sales registers show that SPM Shipping is the buyer in a deal concluded in August, Splash247 reported.
SPM Shipping has been named as the buyer of Dorian LPG's 2015-built, 84,000 cu m Clermont, paying $91m — according to Splash247.
First VLGC for SPM Shipping
SPM Shipping has only a few years in shipowning, according to Splash247. The company has moved into both the capesize and VLCC segments before adding its first VLGC with the Clermont purchase. The acquisition gives SPM Shipping a presence across three major shipping segments: capesize dry bulk, VLCC tankers, and gas carriers.
The Clermont is a 2015-built vessel with a capacity of 84,000 cu m, constructed at Hyundai Samho, according to Splash247. The vessel is the latest in a string of VLGC sales by Dorian LPG, the source reported.
Dorian LPG's recent VLGC disposals
Earlier this summer, Dorian LPG sold the Constellation, another 2015-built 84,000 cu m unit, for $87.3m, and the 2014-built Corsair for $81.8m, according to Splash247. The Clermont sale adds to that series of VLGC disposals.
| Vessel | Built | Capacity | Price |
|---|---|---|---|
| Clermont | 2015 | 84,000 cu m | $91m |
| Constellation | 2015 | 84,000 cu m | $87.3m |
| Corsair | 2014 | Not stated | $81.8m |
SPM Shipping's Clermont purchase is the highest-priced of the three reported VLGC sales, according to Splash247. The Constellation and Corsair sales were also agreed earlier this summer.
SPM Shipping's corporate structure
SPM Shipping is headquartered in Dubai, UAE, and is described by Splash247 as a rapidly growing shipowner. The company is affiliated with Priya Blue, one of India's largest ship recyclers, and serves as the shipowning arm of Best Oasis, a major global cash buyer of ships. In addition to its newly acquired VLGC, SPM Shipping also has a fleet of smaller offshore ships, according to Splash247.
The Clermont purchase adds LPG carrier capacity to SPM Shipping's portfolio, which already includes capesize and VLCC tonnage, according to Splash247. The deal also continues a pattern of VLGC disposals by Dorian LPG, with three vessels sold this summer at reported prices of $81.8m, $87.3m, and $91m.
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