Norway’s Eitzen adds a fleet of LPG carriers with acquisition of B-Gas

Norwegian company Eitzen has acquired B-Gas A/S, B-Gas NSG, B-Gas Pelagic and their subsidiaries from Bergshav and its partners.

As explained, B-Gas owns and operates ten liquified petroleum gas (LPG) vessels, which mainly operate in the northwest European market.

The company also commercially controls three LPG carriers though commercial management and time charters. The commercial and operational headquarters are located in Hellerup, Denmark.

“Acquiring B-Gas is another big step in Eitzen’s ambition in becoming a leading owner and operator of liquefied gas carriers and we are very pleased that we have now secured a strong foothold in the coaster gas market,” commented Axel Eitzen, executive chairman of Eitzen.

“We are very positive about the outlook for the LPG and Petrochemical business in northwest Europe and we see synergies between B-Gas and our chemical company Christiania Shipping, which operate with the same size of vessels in the same geographical markets and with the same clients.” 

“With the strong market in mind the timing of the sale of B-Gas makes a lot of sense for us and I have no doubt that Eitzen is the right buyer to bring B-Gas to the next level in supplying safe and first-class logistical solutions for the clients of B-Gas going forward, with the assistance of the experienced team in Hellerup,” Atle Bergshaven, Executive Chairman of Bergshav, stated.

Andrew C. McPhail, CEO of B-Gas said that the acquisition will furthermore provide a solid platform on which the firm can continue to grow its businesses in the LPG and Petchem coaster market.