Eyal Ofer-led diversified shipowner and operator Zodiac Maritime controlled 2014 built capesize bulk carrier 181K DWT MV Indian Partnership was stable on Tuesday after taking on water following a grounding off Indonesia on 22 April 2023. London-based Zodiac Maritime Ltd controlled MV Indian Partnership breached but was stable after hitting an uncharted reef. MV Indian Partnership is afloat at anchor after making it to shallower waters off Indonesia. MV Indian Partnership was en route to China carrying bauxite ore cargo. The collision with the reef punctured the forward ballast tanks located on the starboard side of MV Indian Partnership. 23-April-2023
Eyal Ofer led diversified shipowner and operator Zodiac Maritime has acquired 2011 built capesize bulk carrier 175K DWT MV Giuseppe Bottiglieri for around $16 million from Italian shipowner and operator Giuseppe Bottiglieri Shipping Company (GBSC). Zodiac Maritime taking advantage of low capesize bulk carrier prices. Zodiac Maritime has been renewing the fleet of large bulk carriers. Currently, diversified shipowner and operator Zodiac Maritime has a fleet of 23 capesize bulk carriers and 3 VLOCs (Very Large Ore Carriers) in the dry bulk segment. 5-October-2020
Diversified shipowner and operator Zodiac Maritime is expanding its fleet with fourth large bulk carrier purchase in 2019. Eyal Ofer led Zodiac Maritime bought 2005 built Very Large Ore Carrier (VLOC) 203K DWT MV Azul Fortuna for about $15.8 million from Japanese shipowner Kotobuki Shipping. Zodiac Maritime is renewing its fleet. In May 2019, Zodiac Maritime bought 2004 built Very Large Ore Carrier (VLOC) 233K DWT MV Cape Toucan (ex MV Pacific Glory) for about $14.6 million. In September 2019, Zodiac Maritime bought 2004 built Very Large Ore Carrier (VLOC) 203K DWT MV Cape Kori (ex MV Azul Challenge) for about $16.8 million. In September 2019, Zodiac Maritime also bought 2012 built capesize bulk carier 180K DWT MV Cape Krane (ex MV Frontier Voyager) for about $25.9 million. Zodiac Maritime has not disposed of any ships in capesize segment since 2018. Zodiac Maritime’s fleet comprises 27 large bulk carriers and also 13 handysize to kamsarmax bulk carriers. 12-December-2019
Eyal Ofer led diversified shipowner and operator Zodiac Maritime has acquired Japanese controlled capesize bulk carrier. Zodiac Maritime has been taking advantage of fairly low price tags in the capesize bulk segment. Zodiac Maritime has acquired 2012 built capesize bulk carrier 180 DWT MV Frontier Voyager for about $24.5 million from Tokyo listed shipping giant NYK (Nippon Yusen Kabushiki Kaisha). According to market veterans, MV Frontier Voyager has a price tag of around $28 million. In 2012, MV Frontier Voyager was built at Tsuneishi Heavy Industries Cebu. Currently, diversified shipowner and operator Zodiac Maritime’s fleet comprises 39 bulk carriers which includes 20 capesize bulk carriers and 7 VLOCs (Very Large Ore Carriers). In May 2019, Zodiac Maritime bought 2004 built VLOC (Very Large Ore Carrier) 233K DWT MV Cape Toucan (ex MV Pacific Glory) from Tokyo listed giant Mitsui O.S.K. Lines for about $14.6 million. In May 2019, bulk freight rates were considered really depressed. Eyal Ofer led diversified shipowner and operator Zodiac Maritime has generally been expanding its fleet, but Zodiac Maritime has also been known to make opportunistic asset plays. For example, in July 2015, Zodiac Maritime bought the 2015 built capesize bulk carrier 181K DWT MV SBI Puro and 2015 built capesize bulk carrier 181K DWT MV SBI Valrico from Scorpio Bulkers for about $35.3 million each. In June 2018, Zodiac Maritime sold MV SBI Puro and MV SBI Valrico to Genco Shipping & Trading for $45 million each. In November 2018, Zodiac Maritime bought 2010 built capesize bulk carrier 180K DWT MV Frontier Ambition for about $29 million. 19-September-2019
Eyal Ofer-led London-based Zodiac Maritime Ltd. has entered the capesize S&P market for the first time in 2019. Eyal Ofer’s esteemed shipping company has identified a dip in bulker values, and seized the opportunity to invest in second-hand dry cargo tonnage, marking its first foray into this area in over six months. Zodiac Maritime Ltd 2004 built VLOC (Very Large Ore Carrier) 233K DWT MV Pacific Glory. Mitsui OSK Lines, the Japanese conglomerate, sold the MV Pacific Glory to Zodiac Maritime for around $14.5 million, a price reflective of current depressed market levels.
Eyal Ofer-led London-based Zodiac Maritime Ltd., a diverse shipping enterprise, presently boasts a fleet of 25 capesize bulk carriers, which includes six (6) ore carriers, four (4) of which were built before 2000. In 2018, Zodiac Maritime has focused on augmenting and replenishing its tanker fleet, with six modern assets procured from the former Toisa fleet, and an expansion in its VLCC (Very Large Crude Carrier) footprint, among other significant achievements.
In the dry cargo arena, London-based Zodiac Maritime Ltd.’s most recent large bulker acquisition was in November 2018, when Zodiac Maritime acquitred capesize bulk carrier 180K DWT MV Frontier Ambition for around $29 million.
Notably, in 2018, Zodiac Maritime divested some of its tonnage purchased during the previous down-cycle and profited from the transaction. The sale included two capesize bulk carriers, which were bought from Scorpio Bulkers during a market low in 2016, and subsequently transferred as part of a broader transaction with the New York-listed Genco Shipping & Trading.
However, earlier this year, capesize bulk carrier sale and purchase activity experienced a significant downturn due to uncertainty surrounding steel values following a tragic dam collapse in Brazil, which had caused rates to plummet during the first quarter. 28-May-2019
Eyal Ofer’s Zodiac Maritime continues to be busy disposing of vintage bulkers for demolition. Zodiac Maritime sold the 1991 built Very Large Ore Carrier (VLOC) 267K DWT DWT M/V Wugang Orient for scrapping in Bangladesh for $234 per ldt, or $8.7 million. It is the fourth large bulker that Zodiac Maritime has sold for recycling this year. Zodiac Maritime still has nine (9) capesize bulk carriers built before 2000. 2-March-2016