• 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”.




2019 September 16

18:04 Ports draw $5B investment, 12K jobs to Georgia
17:59 GOGL increases investment in Singapore Marine
17:50 Pella launched first serial trawler of Project 03095, Castor
17:25 Tenders on pilot projects for stevedoring company concessions in Olvia and Kherson ports officially announced
17:04 Vestdavit equips Norwegian Coast Guard’s next generation for Polar boat launch and recovery
16:29 USCG halts 2 illegal charters near Miami, Fort Lauderdale
16:04 Royal Caribbean to welcome first Quantum Ultra Class ship to North America
15:27 Boluda Towage Spain manoeuvres world’s largest container ship in port of Algeciras
15:04 Cargill and Maersk Tankers join forces in the Medium Range segment
14:10 Zvezda shipyard hosts keel-laying ceremony for third Aframax tanker for Rosnefteflot
13:39 Jotun transforms turnaround times for storage tanks with a new TankFast solution
13:16 North Sea Port starts testing more reliable lockage planning for scheduled services in the Terneuzen lock
12:42 Meyer Turku is moving the delivery of Costa Smeralda to November
12:18 AEC welcomes Guggenheim Partners Investment Management as Arctic Partner
11:55 Professional emergency response team of Kontur SPb LLC recommended to be certified for emergency response to oil spills
11:21 Workshop on ISPS Code for Designated Authority and Port Facility Security Officers held in Ghana
10:53 IMO continues work to promote ratification of international treaty covering wreck removal
10:29 GESAMP celebrates fifty years of service in ocean science
10:04 Busan Port Authority and Adani Ports & SEZ conclude MOU
09:50 Brent Crude futures price is up 9.96% to $66.22, Light Sweet Crude – up 8.61% to $59.52
09:32 Gazprom supports 3rd Conference “LNG Fleet and LNG Bunkering in Russia” as its General Sponsor
09:17 Baltic Dry Index is down to 2,312 points
09:08 Nyborg becomes 30th port to join the Cruise Baltic network
08:44 ECSA, INTERFERRY, EUDA and CLIA Europe welcome report on the evaluation of the Energy Taxation Directive
08:35 MABUX: Bunker Market this morning, Sept 16
08:00 Live webcast of NEVA 2019 zero-day conference begins at 10 am, September 16, on PortNews website

2019 September 15

15:47 M/V "SARA” refused access to the Paris MoU region
14:26 USCG assisted capsized USFSP sail students in St. Petersburg, Florida
12:02 World’s largest wind turbine blade test stand built by Siemens Gamesa
11:21 IMCA to introduce CPD scheme for diving supervisors
10:51 L3Harris Technologies delivers new advanced autonomous vehicle capability to UK’s Defence Science and Technology Laboratory

2019 September 14

15:29 Coast Guard reopens Houston Ship Channel after protest demonstration
13:39 Crondall Energy partners with Pharis Energy on innovative Pilot Field development
12:08 Prysmian's new cable-laying vessel Leonardo da Vinci scheduled for delivery in 2Q 2021
10:32 Woodside invests in emerging technology for seismic data acquisition

2019 September 13

18:06 Sture terminal situation normalised
17:47 Malaysia encourages gender diversity in the maritime industry
17:24 Multipurpose ship of Project MPSV12, Kalas, successfully completed sea trials
17:06 Frontline extends expiry date of first option for two Trafigura Suezmax tankers
16:30 ABP to welcome Royal Navy’s HMS Grimsby into Port of Grimsby
16:25 Wärtsilä Aquarius UV Ballast Water Management System chosen for retrofitting to four Korean vessels
16:05 Multi Modal Rail B.V. (MMR) launches rail service between Rotterdam and Ottmarsheim, France
15:48 ABP and WISTA UK host 'Women in Maritime' reception during LISW
15:09 Shearwater GeoServices awarded large South America survey
14:26 ABB enables emissions-free port stay in Marseille for Corsica Linea ferries
14:09 Start of the project “Dredging the Nieuwe Diep – Port of Den Helder”
13:45 First ever ABB electric propulsion to be installed on board a bulk carrier
13:20 Port of Oakland opens peak season with cargo volume growth
12:47 Throughput of port Kavkaz in 8M’2019 fell by 30% Y-o-Y to 22.35 million tonnes
12:09 MOL starts demonstration test of vessel image recognition system using AI technology on Nippon Maru
11:28 RS introduces new requirements into Part I of Rules for Classification and Construction of Sea-Going Ships
11:09 Rolls-Royce achieves 50th MT30 production milestone
10:42 In August, Klaipėda LNG Terminal regasified 1.4 times more gas than was consumed in the entire country
10:09 Port of Long Beach cargo volumes hit 663,992 TEUs in August 2019
10:04 Port Napier, NZ, places order for Damen ATD Tug 2412
09:51 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:34 Brent Crude futures price is down 0.28% to $60.21, Light Sweet Crude – down 0.24% to $54.96
09:16 Baltic Dry Index is down to 2,331 points
09:10 Antwerp and Rotterdam Port Authorities ask new European Commission and Parliament to focus on the economic significance of ports
09:03 MABUX: Bunker market this morning, Sept 13