Epic Gas Sells LPG Carrier Duo

Owner and operator of gas carriers Epic Gas has sold two LPG carriers to unnamed buyers engaged in Southeast Asian cabotage trades within its fleet rejuvenation efforts. 

The vessels in question are the Epic Cebu (4,000cbm, 1997 built) and Cefalu (4,000cbm, 1996 built).

The company said that the proceeds from the transaction were used to retire USD 9 million of senior debt set to mature December 28, 2015.

“The transaction demonstrates Epic’s commitment to proactively managing our fleet to improve profitability and to delivering our customers a differentiated service with modern vessels across the full size spectrum of pressurised LPG carriers,” Epic added.

Epic’s fleet of pressurised LPG carriers consists of 36 vessels on the water with an average size and age of 5,625cbm and 8.4 years, respectively.

The company has an additional eight vessels on order with shipyards in Japan and a ninth newbuilding to be delivered under a bareboat charter to Epic Gas.