Euronext Brussels-listed Exmar NV secures long-term time contracts for new vessels.

The company, which operates worldwide primarily involved in LNG, Offshore and LPG supply chain solutions, was concluded in August 2023 a long-term time charter for four newbuild 40,000 m³ dual fuel vessels.

The delivery of these vessels is scheduled for 2026 and 2027.

While 2022 was an eventful year for LPG and ammonia with increased freight and higher ton-mile, 2023 has seen a correction with reduced ammonia shipping demand, while LPG trade remained robust. Owners managed to keep MGC hire rates at good levels despite recent newbuilding deliveries.

Exmar placed an order on another two 46,000 m³ midsize gas carriers in the first quarter of 2023. The newly ordered vessels will be equipped with dual fuel propulsion and the contracts come with the possibility to have them ammonia fueled.

The company has also confirmed that the LPG-carrier Bastogne was delivered to its new owners in February 2023.

Meanwhile Exmar issued a letter on 22 August 2023 to its shareholders, in the context of the voluntary and public takeover bid launched by Saverex, which is open for acceptance until Friday 15 September 2023.

The company explains that the letter may have created the impression with certain shareholders that they are under an obligation to sell.

As Exmar claims “this certainly was not the company’s intention and we therefore ask you to disregard this Letter and we hereby rectify that each shareholder is free to either tender or not to tender their shares to Saverex.”

In its press release, issued on Friday 8th, Exmar also mentions that “certain shareholders have allegedly been approached in the name of the company, to convince or induce them to tender their shares to Saverex.”

“The company takes the opportunity to underline that it has not taken such initiative and it would not support any such actions,” highlights Exmar, adding that a new letter will be send to its shareholders containing the same message.