Laugfs Maritime buys second LPG carrier

Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas, has bought its second LPG carrier. The 3,500 cu m Gas Success cost Laugfs $6m and joins the Gas Challenger which was acquired a year ago. LPG demand in Sri Lanka is on the rise.

“As a company that embodies a truly Sri Lankan identity, we have always focused on extending our horizons beyond national borders, carrying this identity to a regional and global sphere with our strategic business investments and interests,” W.K.H. Wegapitiya, chairman of Laugfs Holdings, said in a statement.

Laugfs is set to build a large LPG storage facility at Hambantota Port from where its LPG fleet will send gas to South and Southeast Asia as part of plans “to promote Sri Lanka as the energy logistic hub within the next three years,” according to Wegapitiya.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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