Belgium-based Exmar has reached an agreement to buy back the very large gas carrier (VLGC) Flanders Innovation from its lessor.
The shipowner said the vessel is currently financed under a lease agreement, with purchase option.
The purchase price under the option was agreed to be paid in Japanese Yen. Thanks to the Yen-USD exchange rate, Exmar said it will realize a financial profit of about $12m.
The 88,000 m3 vessel is expected to be delivered to Exmar at the end of June 2026.
Exmar is a player in the transportation of liquefied gas products (ammonia, liquid petroleum gas, butane, propane and chemical gases).