Pelagic Partners extends its LPG fleet together with B-Gas

Maritime investments fund Pelagic Partners acquires two LPG carriers together with Danish gas shipping specialist B-Gas.

With this acquisition, the ship-owning fund now owns in total five LPG carriers that it controls.

The two semi-ref LPG carriers originate from 2003 and 2004. They offer capacities of about 3,000 cubic metres each.

Additionally, Pelagic Partners took delivery of the MR2 product tanker Star Osprey. The vessel, made in 2007, will join the Norient Product Pool. The partner in this was Cypriot outfit Interorient Shipmanagement.

Through the latest additions, its Fund I now comprises a total of eight vessels. It has a current value of around $60 million. Hence, Pelagic completed and officially closed its Fund I.

Furthermore, preparations are ongoing to kick off Pelagic Fund II in January 2022.

“Given the success of Fund I with an AUM target of 50 million USD, we look forward to go even bigger with our new Fund II, which has an AUM target of 100 million USD”, said Atef Abou Merhi, managing director of the fund.