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Erasmus Shipinvest Group: Two more LPG carriers

Erasmus Shipinvest Group, the company founded in 2010 by Chinese interests and located in Vouliagmeni, is rapidly growing in the LPG carrier industry.

According to information, the shipping company recently ordered two ships, each with a capacity of 7,500 cubic meters, at the Japanese Kyokuyo Shipyard. Although the price of the deal was not disclosed, shipping sources estimated the cost of building such a ship at between $32-$35 million. The delivery of the ships is expected to be completed by the end of the first half of 2025.

Erasmus seems to have built close relations with the Japanese yard, which provided it with two container ships in October 2022 and early 2023.

According to data from Chinese shipyards, the company will deliver three more newly built LPG carriers, with a capacity of 5,000 cubic meters each, from the Japanese shipyard Shitanoe Zosen, by December.

The market for LPG carriers is on the upside, with spot rates for the large sizes having climbed above $100,000 per day. In fact, the industry is particularly resilient, despite the soaring order book and increased deliveries from shipyards.