The Ofer family is expanding its shipping business. UK maritime and transport news portal "Lloyd's List" reports that the Ofer Shipping Holdings Ltd. will begin operating very large gas carriers (VLGC), through its UK shipping subsidiary Zodiac Maritime Agencies.
"Lloyd's List" says that Zodiac is joining Denmark's Maersk Tankers, and Transpetrol Maritime Services in the pooling of 14 VLGCs by 2011. Zodiac operates and leases ships to companies worldwide, including its sister company Zim Integrated Shipping Services Ltd., which is held by Israel Corp. (TASE: ILCO).
With global energy prices soaring, haulage of natural gas, which is a substitute to oil, is a market that has seen steady growth in recent years. Sources inform ''Globes'' that Ofer Shipping has already ordered two large natural gas carriers from the Kawaski Heavy Industries shipyard in Japan for a total of $170 million. One ship is due to be delivered this year and the other in 2010.
Shipping sectors do not rule out the possibility that Ofer Shipping could also become one of the carriers of liquefied natural gas to Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008