Maritime Industry Briefing: Exmar Offloads Gas Carriers, Red Sea Tensions Resurface, Petronas Extends FPSO Charter

## Exmar Exits Five LPG Carriers in $35m Profit Deal Belgian gas shipowner Exmar has agreed to sell a package of five LPG carriers in a transaction expected to generate approximately $35 million in profit, according to Splash247. The sale includes three midsize gas carriers — the 2016-built *Kortrijk*, the 2017-built *Kruibeke*, and the 2018-built *Wepion* — each with capacities ranging between 38,200 and 38,500 cubic metres. The divestment signals a strategic portfolio rebalancing by Exmar, which has been active in reshaping its fleet in recent years. The deal underscores continued investor appetite for modern, fuel-efficient gas tonnage amid strong LPG freight fundamentals. ## Iran Reportedly Primes Houthis to Shut Bab el-Mandeb Geopolitical risk in the Red Sea corridor has escalated once again, with Splash247 reporting that Iran has asked Yemen's Houthi movement to prepare to close the Bab el-Mandeb Strait should the United States launch strikes against Iranian power infrastructure. Three sources cited by Reuters confirmed the proposal has been under active discussion at senior levels. The strait, a critical chokepoint connecting the Red Sea to the Gulf of Aden, handles a significant share of global container and tanker traffic. A renewed closure would force vessels back onto the longer Cape of Good Hope routing, adding days and substantial costs to voyages between Asia and Europe. Shipowners, operators, and cargo interests will be monitoring diplomatic developments closely, as any escalation could rapidly reshape global freight patterns and insurance risk premiums. ## Petronas Extends Ratu Nusantara FPSO Charter to 2036 Malaysian national oil company Petronas Carigali has secured a ten-year extension for the *Ratu Nusantara* floating production, storage and offloading (FPSO) vessel, which operates on the Bukit Tua oilfield offshore Indonesia, Splash247 reports. The vessel will now remain on station until 2036, providing long-term revenue certainty for Indonesia's state energy sector and underpinning continued upstream production at the field. The deal reflects a broader industry trend of operators extending FPSO charters rather than commissioning new units, as established vessels with proven operational records offer cost efficiencies in a capital-intensive environment. For the FPSO owner, the extension provides a stable, long-duration income stream in a market where contract visibility remains highly valued.