H.M. Pelagic Partners is delighted to announce the acquisition of two more LPG carriers.
B-Gas Jupiter was delivered on August 30 and B-Gas Saturn joined on September 9, increasing the number of vessels in the “Pelagic Fund 1” to seven.
The newly acquired vessels were both built in 2004 and arrived following the June purchases of B-Gas Mate and B-Gas Monarch in a joint venture with Danish gas shipping specialist company B-Gas A/S.
“Pelagic Partners have further strengthened our position within the niche LPG Coasters market,” says Atef Abou Merhi, one of the Founding Members of Pelagic Partners.
“The sub-5,000 cbm segment remains relatively specialist. New builds are still not justified given current prices. We believe that acquiring these vessels helps us to maintain a strong strategic position.
“With vaccinations increasing around the world, we’re seeing Covid restrictions slowly easing. We believe these recent purchases now also give us the possibility to benefit from the upside in the forthcoming months.
