Exmar Optimistic About Gas Carrier Market into 2015

Maritime Activity Reports, Inc.

October 30, 2014

Photo: Exmar

Photo: Exmar

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter and was expected to remain good in spite of new vessels being delivered in 2015.

The group said its LNG business unit generated $8.5 million in operating profit in the third quarter, up from $7.8 million last year, while its LPG fleet saw an earnings spike to $15.6 million from $5.2 million last year mainly due to the sale of a vessel.

Exmar said the sentiment in the midsize freight market remained firm and that the very large gas carrier business was also expected to be good in 2015.

(Reporting by Robert-Jan Bartunek; editing by Foo Yun Chee)

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