Eletson Gas Orders Eight LPG Carriers

Eletson Holdings Inc. (Eletson) yesterday announced the formation of a joint venture with funds managed by Blackstone Tactical Opportunities (Blackstone) to create Eletson Gas, a $700 million liquefied petroleum gas (LPG) shipping company. Eletson Gas also announced the signing of newbuilding contracts for eight vessels.

Five 12,000 cbm ethylene-capable semi refrigerated (semi ref) vessels were ordered from Korea’s Hyundai Mipo Dockyard and three 22,000 cbm ethylene-capable semi ref vessels from China’s Sinopacific Offshore & Engineering.

Additionally, Eletson Gas holds options for two additional 22,000 cbm vessels at Sinopacific.

All eight new-build vessels are scheduled for delivery in 2015 and early 2016.

As part of the agreement, Eletson will contribute its existing fleet of five medium-size gas carriers, and Blackstone will provide equity capital to finance the growth of the company through the construction of new-build vessels as well as through the acquisition of existing vessels.

Operating and technical management of the Eletson Gas fleet will be provided by Eletson.


Press Release, October 23, 2013

Share this article

Follow World Maritime News

Posted on October 23, 2013

In Depth>


<< Dec 2019 >>
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >