Evergas and Eletson Gas establish new alliance - E3 Pool
Danish shipping company Evergas joins forces with Greek LPG shipping company Eletson Gas to create new LPG alliance
Eletson Gas and Evergas are pleased to announce an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will start trading on January 30 from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore.
The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading. It will be joined by a further four vessels to be delivered to Eletson over the next twelve months and will create a single point of contact for cargo owners. The larger fleet is expected to provide more flexibility and more options for charterers, reduce voyage related expenses through optimisation of voyages and thereby reduce greenhouse gas emissions as a direct consequence of using less fuel for cargo movements.
Vassilis E Kertsikoff, Chairman and CEO of Eletson Gas said: “The petrochemical market has a number of established trade routes that require critical mass to service properly. The cooperation with Evergas in the context of the E3 pool will give us the ability to offer our customers the high level of service and the optionality that they require.”
Steffen Jacobsen, CEO of Evergas said: “With the combined expertise and resources of the two companies behind it the E3 Pool will be uniquely placed in the market to give a truly global service in this segment. We look forward to working with Eletson to develop our joint venture as a significant force within the ethylene and petrochemical markets.”
Eletson Gas, majority owned by Eletson Holdings in a joint venture with the Blackstone Group, is a world leading LPG shipping company. The fleet is presently comprised of five MGCs, two Handymax (including one chartered-in) and five Handysize ethylene-capable vessels. Eletson Gas has on order four Handysize (ethylene capable) vessels scheduled for delivery in 2017 and 2018. All Eletson Gas owned vessels are Greek flagged, with a combined capacity of 326,200 cbm.
Evergas A/S is a Danish shipping company with roots back to 1883, wholly owned by Greenship Gas & Jaccar Holdings and is one of the world’s leading seaborne transporters of petrochemical gases and natural gas liquids. The fleet currently consists of six 5.000 cbm pressurized vessels, nine 12.000 cbm semi-ref/eth vessels and eight 27,500 cbm multigas LNG carriers. All Evergas’ vessels are Denmark, Singapore or Malta flagged with a combined capacity of 358,000 cbm.