Epic Gas Refinances Two LPG Tankers

Source: Wikimedia – under the CC0 1.0 Universal license; Image by: Alf van Beem

Singapore-based gas carrier owner and operator Epic Gas has completed the refinancing of two 2010-built LPG tankers.

The 7,200 cbm Epic Bali and Epic Borneo were both in a finance lease structure and the company exercised a purchase option to refinance the vessels through a sale and leaseback transaction with an undisclosed Japanese ship owner.

Epic Gas noted that the bareboat charter back term is 10 years, with a purchase option from year five.

This transaction has reduced the company’s interest and amortization by a total of USD 1.3 million for both ships.

“Today’s transaction reflects our ongoing efforts to continuously optimise our cost of financing, driving out unnecessary cost wherever possible,” Uta Urbaniak-Sage, CFO of Epic Gas, said.

Share this article

Follow World Maritime News

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

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

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 >