Maritime Logistics Equity Partners launched to acquire and operate chemical tankers

Easterly Asset Management, based in Beverly, Massachusetts, has launched Maritime Logistics Equity Partners (MLEP) to take advantage of opportunities in international shipping markets, including the chemical tanker shipping sector. MLEP intends to acquire and operate secondhand chemical tankers.

In its first transaction, MLEP acquired two stainless steel chemical tankers, the Easterly Beech Galaxy, built in 2007, and the Easterly Lime Galaxy, built in 2008, from Cido Shipping. The company intends to acquire more stainless steel vessels by the end of 2021.

“There is a compelling opportunity to invest in pre-owned chemical tankers, given the limited supply and growing demand for the vessels, a low future orderbook for shipping construction and the expansion of chemical trade lanes,” said Darrell Crate, managing principal of Easterly Asset Management and MLEP’s chief executive officer.

MLEP will place all of its acquired vessels into Womar’s tanker pools.

Kim Biggar

Kim Biggar started writing in the supply chain sector in 2000, when she joined the Canadian Association of Supply Chain & Logistics Management. In 2004/2005, she was project manager for the Government of Canada-funded Canadian Logistics Skills Committee, which led to her 13-year role as communications manager of the Canadian Supply Chain Sector Council. A longtime freelance writer, Kim has contributed to publications including The Forwarder, 3PL Americas, The Shipper Advocate and Supply Chain Canada.
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