Zodiac Maritime is continuing its expansion in the car carrier market, placing a new order for two LNG dual-fuel pure car and truck carriers (PCTCs) in China as global demand for vehicle shipping remains strong.
The London-based shipowner, controlled by Eyal Ofer, has contracted the two 7,000 ceu vessels at Yantai CIMC Raffles, one of its long-standing shipbuilding partners. Both ships are scheduled for delivery in 2028.
The latest deal further strengthens Zodiac’s position in what has become one of the shipping industry’s busiest and most competitive sectors, driven largely by the rapid growth of Chinese vehicle exports to overseas markets.
The order also builds on Zodiac’s already sizeable PCTC newbuilding programme. The company has previously taken delivery of 10 vessels from the same Chinese yard and continues to expand its footprint in the automotive shipping segment.
Over the past few years, Zodiac has emerged as one of the most active players in the car carrier market and was among the early operators to charter vessels to major Chinese automotive manufacturers such as BYD and Geely, both of which have been aggressively increasing exports.
The company’s current fleet now stands at 22 PCTCs, with additional tonnage still under construction as part of its ongoing expansion strategy.
Zodiac’s partnership with Yantai CIMC Raffles dates back several years. The original agreement signed in 2021 included four firm 7,000 ceu vessels valued at roughly $83m each, alongside options for up to 12 ships.
The most recent pair of vessels ordered in 2023 reportedly came at a price of around $92.5m per ship, although financial details tied to the newest order have not been disclosed.
At the same time, Zodiac has also been widening its exposure beyond traditional shipping segments. Earlier this month, the company entered the ammonia shipping market through a separate agreement with Hanwha Ocean for a series of ammonia carriers, reflecting the owner’s growing interest in alternative fuel transportation and future energy trades.
