• 2019 July 19 13:07

    Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers

    Epic Gas Ltd. (ticker “EPIC-ME“, “Epic Gas“ or the “Company“), the leading LPG shipping solutions company, announced that it has completed the acquisition of two of the four ships that it previously referenced in April 2019.

    The vessels, the Kahyasi and Kris Kin, , are all modern second-hand 11,000cbm Japanese-built pressurised LPG carriers that were built in 2015.The remaining ships, the Kingcraft and Kisber, also both 11,000cbm Japanese-built pressurised LPG carriers built in 2015, are due to complete in July and August. Two of the four vessels immediately enter a two-year time charter with a leading LPG commodity trading and shipping company.

    The four vessels will sit alongside six sister vessels already in the Company fleet, allowing the company to leverage on costs and scale to deliver safe high quality long-term low-cost freight to customers on a global basis.

    The acquisition is financed with a combination of equity and debt, including a 7-year senior secured credit facility of US$ 63.9 million with BNP Paribas and Danish Ship Finance.

    Charles Maltby, CEO of Epic Gas, commented:

    “These vessels allow us to further leverage our operational platform at an attractive stage of the rate cycle for minimal additional cost, reflecting the benefits our growing scale can deliver. The financing at competitive terms further strengthens our competitive edge, and we thank our lenders for their support. Once the final vessel arrives in August, we will have a fleet of 44 modern vessels, reinforcing our market leading position and global reach.”

    About Epic Gas Ltd.

    Epic Gas owns and operates a fleet of fully pressurised gas carriers providing seaborne services for the transportation of liquefied petroleum gas and petrochemicals. The company controls a fleet of 42 vessels which serve the international supply chains of leading oil majors and commodity traders throughout Asia, Europe, Africa and the Americas. The Company’s shares are traded over the Oslo Stock Exchange under the ticker “EPIC-ME”.




2020 January 20

13:07 Geothermal energy research in Port of Rotterdam enters next phase
12:59 Pella shipyard commenced construction of two crab catching vessels of Project 03070 for the Far East
12:37 Average wholesale prices for М-100 HFO up to RUB 10,074 in RF spot market
12:11 Crews of ships of RF Navy's Primorsky Flotilla are preparing to the sea campaigns
11:05 17 Carriers and ports release Boao Cooperation Initiative 2020
11:00 IAPH welcomes new member port from Oman
10:36 MABUX: Bunker market this morning, Jan 20
10:18 Container throughput of port Hong Kong (China) down 6.3% to 18.36 million TEUs in 2019
09:55 Buenos Aires, Argentina to host LNG Latin America 2020 International Congress on 17-18 June
09:32 Brent Crude futures price is up 1.3% to $65.69, Light Sweet Crude – up 1.14% to $59.25
09:14 Baltic Dry Index is down to 754 points

2020 January 19

18:07 TORM increses its share capital due to exercise of Restricted Share Units as part of the Company’s incentive program
17:57 USCG halts illegal charter in Sarasota Bay
14:27 Torqeedo and ZF cooperate on new emission-free electric propulsion for water taxis and ferries
12:39 Kalmar delivers to Medcenter Container Terminal its 200th straddle carrier
11:43 NOC condemns calls to blockade oil facilities
10:24 Port of Oakland's 2019 container volume down 1.8% due to fewer empty boxes

2020 January 18

15:38 Port NOLA sets new container record in 2019
14:23 Port of Zeebrugge 2019 cargo throughput rose 14.2% to 45.8 million tonnes
12:03 Svitzer appoints new regional managing director for Svitzer Americas
11:51 TORM obtains $496m bank financing for the refinancing of existing debt
11:16 Kalmar’s heavy-duty terminal tractors to help Maritime Truck enhance performance at the Port of Oslo
10:52 Port of Rotterdam reports increase in LNG bunkering in 2019

2020 January 17

18:06 Safe Bulkers refinances $105.2 mln of existing loan facilities with respect to eight vessels
17:52 Construction of Borssele 1+2 wind farm off Zeelandic coast begins
17:31 Murmansk Sea Fishing Port handled 263,500 tonnes of cargo in 2019, down 20.4% Y-o-Y
17:06 Wärtsilä solutions support environmentally sustainable performance for two new MSC Cruises's ships
16:50 BIMCO expands ice information service
16:27 A record year for cruise expected at Port of Southampton
16:02 Qatargas delivers first Q-Flex LNG cargo to Summit LNG FSRU in Bangladesh
15:49 Tallink Grupp sets group-wide CSR strategy and sustainable operations goals
15:23 RUB 127.57 billion of federal budget allocations approved for construction of Leader-class icebreaker
15:02 Dublin Port unitised trade up 3.6% in 2019
14:48 Seaspan Shipyards hosts ceremonial keel laying for the Royal Canadian Navy’s future Joint Support Ship
14:30 RF Navy's Black Sea Fleet minesweeper makes planned transition from Sevastopol to Mediterranean Sea
14:14 Diana Shipping announces time charter contract for m/v Astarte with Aquavita
13:51 Turnover of DeloPorts terminals in 2019 decreased by 5% YoY to 8.3 mln tonnes
13:32 SAAM agrees to acquire 70% of Intertug, a towage operator in Colombia, Mexico and Central America
13:03 Flex LNG announces extension of the time-charter agreement for Flex Enterprise
12:37 Kawasaki Heavy Industries delivers bulk carrier FJ VIOLA
12:27 Hapag-Lloyd signs space charter agreement with Maersk and MSC on the Asia-North Europe trade
12:20 Russian Maritime Register of Shipping reports its key 2019 results
12:03 Pyxis Tankers announces completion of sale of Pyxis Delta
11:38 KHI delivers LPG carrier PHOENIX GAIA
11:29 Throughput of Vostochny Port grew by 5.2% to 25.51 million tonnes in 2019
11:03 Eagle Bulk Shipping joins Getting to Zero Coalition
10:36 MABUX: Bunker market this morning, Jan 17
10:28 NYK agrees to MoU with Northern Offshore Group on partnership for crew transfer vessel business for offshore wind power generation systems
09:56 Brent Crude futures price is down 0.05% to $64.59, Light Sweet Crude – down 0.03% to $58.5
09:33 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index is flat at 768 points
07:18 NYK and Van Oord sign MoU to own and operate offshore wind installation vessels in Japan

2020 January 16

18:37 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
18:06 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES
17:52 Mikhail Mishustin appointed as the Prime Minister of the Russian Federation
17:31 ClassNK issues Hong Kong Convention Statement of Compliance to Ship Recycling Facility in Bangladesh
17:03 Hapag-Lloyd announces rates from Middle East to Mediterranean and North Europe
16:39 Bunker prices are stable at the Far East ports of Russia following the recent growth (graph)
16:03 Vessels offered free shore power during Parkkade trial in Rotterdam
15:22 The CMA CGM Group is strengthening the organization of CEVA Logistics to begin the second phase of its development