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NEW GAS TANKER JOINT VENTURE REACHES FRUITION

NEW GAS TANKER JOINT VENTURE REACHES FRUITION

Friday, March 12, 2021 

The previously-announced merger between Epic Gas and Lauritzen Kosan, the gas carrier division of J Lauritzen, creating a new entity known as BW Epic Kosan has now been legally finalised, subject to an EGM on the 24 March.

The merger is said to have created a world leader in last-mile delivery of LPG and other speciality gases and petrochemicals, with Lauritzen Kosan contributing 34 gas carriers alongside Epic Gas’s fleet of 42 pressurised gas vessels. BW Group will be the largest shareholder at 58%, followed by Lauritzen with 26%.

Andreas Sohmen-Pao, Chairman of Epic Gas, said: “This combination amplifies the ability of the Company to deliver energy and feedstock to communities around the world, providing customers with the scale and flexibility to meet their requirements, and allowing us to continue our work on ESG matters across a wider platform.”

Tommy Thomsen, CEO of the Lauritzen Foundation and Chairman of Lauritzen Kosan said: “This transaction marks a new, exciting chapter for the Company. With 76 gas carriers, the Company is further strengthened for last-mile delivery of LPG, specialty gases, and petrochemicals. Digitalisation and decarbonisation are a necessity in today’s market to provide superior customer service and maximise shareholder value, and this consolidation will allow us to do so more effectively.”

BW Epic Kosan has significant commercial and technical capability across pressurised, semi-refrigerated, refrigerated gas and petrochemical transportation, and will be headquartered in Singapore, with Copenhagen as a regional office alongside offices in London, Manila, and Tokyo.

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