Italian shipowner Carbofin has concluded a $37.4m charter deal for two midsize LPG carriers with Brazilian energy giant Petrobras.

Market sources said the Rio de Janeiro-based charterer has fixed the 35,000-cbm Alessandro Volta and 37,000-cbm Luigi Lagrange (both built 2006) for three years from the autumn. It is understood to be paying $520,000 per month for each vessel.

The new charters represent a decline in earnings for both vessels.