AsiaFinance and InsuranceGas

Epic Gas receives $31.8m financing for secondhand LPG carriers

Singapore: Epic Gas has secured $31.8m in financing from CIT Maritime Finance, with which the Singapore-based owner has acquired two secondhand LPG carriers.

“The two vessels we acquired through this financing are cost-efficient and ideal for short- to medium-haul of transporting/redistributing LPGs and chemical gases to the smaller gas terminals,” Lars Vang Christensen, ceo of Epic Gas, said in a statement.

Including this transaction, CIT Maritime has provided over $78m in financing to Epic over the past year.

Terms of the transaction were not disclosed. The vessels acquired have not formally been identified. [15/10/14]


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