Eitzen acquires LPG fleet with B-Gas purchase

Eitzen has purchased B-Gas from Bergshav Shipholding, adding a fleet of LPG carriers to its portfolio.

B-Gas is the owner-operator of 10 LPG vessels, which range in size from 3,000 to 5,000 cubic metres.

The vessels mainly operate in the North West European market.

B-Gas also controls three LPG carriers via commercial management and time charters.

“Acquiring B-Gas is another big step in Eitzen’s ambition in becoming a leading owner and operator of liquefied gas carriers and we are very pleased that we have now secured a strong foothold in the coaster gas market,” commented Axel Eitzen, executive chairman of Eitzen.

“We are very positive about the outlook for the LPG and Petrochemical business in North West Europe and we see synergies between B-Gas and our chemical company Christiania Shipping, which operate with the same size of vessels in the same geographical markets and with the same clients.” 

Atle Bergshaven, executive chairman of Bergshav, said: “With the strong market in mind the timing of the sale of B-Gas makes a lot of sense for us and I have no doubt that Eitzen is the right buyer to bring B-Gas to the next level in supplying safe and first-class logistical solutions for the clients of B-Gas going forward, with the assistance of the experienced team in Hellerup.”