Monday, November 29, 2021

Brave Maritime orders fifth LPG newbuilding

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Vafias family’s private company spends more than $300 to acquire gas carriers, bulkers, and a tanker.

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Brave Maritime has ordered a fifth LPG newbuilding from Hyundai Mipo Dockyard (HMD), as part of its push towards expanding its fleet of modern gas carriers.

Part of the private shipping arm of the Vafias family, Brave inked another deal for a 40,000-cbm LPG ship at the South Korean yard, which will bring its orders at HMD to five LPG vessels.

The company is understood to be paying just over $47m for each of the five newbuildings, with delivery of the first slated for 2023.

TradeWinds says it understands that most, if not all of the money, will come from the family’s cash reserves. The company has also snapped up used bulkers, an aframax and other LPGs to the tune of $300m.

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