Gosships Intelligence

Gosships Intelligence

Why Is Zodiac Maritime Betting Over $1.7 Billion On Ships?

Gas carriers took over $840 million this year, its first LNG pair too.

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Gosships Intelligence
Oct 06, 2026
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In its 50th year, Zodiac Maritime has ordered 14 tankers and gas carriers worth about $1.77 billion, on this brief’s count of shipyard filings, broker prices and trade press reports. Five are gas carriers ordered from Hanwha Ocean for about $845 million: three very large ammonia carriers, which Splash247 called Zodiac’s “first major step into ammonia shipping,” and two LNG carriers, its first. The other nine are four VLCCs and five suezmax tankers, ordered at yards in China and Vietnam. In late September, Zodiac sold one of the suezmaxes as a resale, so the 13 vessels it still holds from these orders come to about $1.68 billion, or about $2.32 billion with the eight containerships linked to it in July. Its Chief Operating Officer told Lloyd’s List in September 2025 that Zodiac would order new vessels only when there was a need, and Lloyd’s List reported his view that newbuilding prices were probably too high for speculative orders. By May, Lloyd’s List put Zodiac’s backlog at more than 50 newbuildings, up from 20 due by the end of 2027 when he spoke. No charterer has been named for any of the 14 in the sources read for this brief, and Hanwha’s filings describe the buyer only as a shipowner in Africa. This brief sets out what Zodiac ordered, where and for how much, what one resale has changed, how this year compares with last, what Zodiac says about its program, who has chartered its vessels before, the market it is ordering into and what the orders mean for tanker owners, charterers, lenders and compliance officers.


📋 In This Issue:

  • ⚖️ The Story:

    What Zodiac ordered this year, one resale and an unsettled count, its move into ammonia and LNG, how this year compares with last, what Zodiac says about its program, who has chartered its vessels before, the market it is ordering into, the case against this brief and what the record supports
  • 📊 By The Numbers:

    The $1.77 billion, the $845 million in gas carriers, the 14 vessels, the resale, the backlog and the markets Zodiac is ordering into
  • 🌍 Why It Matters:

    What it changes for the tanker owner and broker, the charterer and trader, the lender and the compliance officer
  • 👀 What To Watch:

    The options, the first named charterer, the ninth suezmax, the deliveries and the falsifier that would change this brief’s reading
  • 🚨 Gosships Signal:

    What Zodiac ordered, what it said a year earlier and what this brief could not find

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