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Kuehne + Nagel buys Asian logistics company with 1,600 employees
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Solstad CEO wants banks to take charge of consolidation
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Borr Drilling lost more than USD 300 million in the midst of restructuring
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Epic Gas Ltd., a leading LPG shipping solutions company, and Lauritzen Kosan A/S, the gas carrier division of J. Lauritzen, have entered into a transaction agreement to combine their fleet and business activities to create BW Epic Kosan.
Combination creates a world leader in last mile delivery of LPG and other speciality gases and petrochemicals: Lauritzen Kosan will contribute 34 gas carriers to EpicGas’s fleet of 43 pressurised gas vessels, in addition to certain other assets,in exchange for new shares in Epic Gas equivalent to a 27% stake.
BW Epic Kosan will have greater scale and synergies across the organisation–the combined fleet of 77 LPG/ethylene vessels will range in size from 3,500 cbm to 12,000 cbm.53 of the vessels will be wholly owned, with a Gross Asset Value of USD 900million. The combined organisation will have significant commercial and technical capability across pressurised, semi-refrigerated, refrigerated gas and petrochemical transportation.