Epic Gas is acquiring four 2015-built secondhand LPG vessels from Petredec, with the transaction for two of the vessels completed and the remaining two to be finalised by August.

Continuing on the M&A trail BW Group has launched a takeover offer for small pressurised LPG carrier owner Epic Gas after taking a majority stake in the company.

Shipping of propane and butane, LPG, a niche corner of maritime markets, has received attention in recent weeks through webinars, conference calls and analysts reports, with renewed optimism about listed companies in the sector.

Singapore-based LPG specialist Epic Gas has posted a bigger loss in the first quarter compared to the year-ago period, while revenue has been largely stable.

Singapore-based LPG specialist Epic Gas has entered into an agreement to purchase a secondhand 7,500-cu m LPG carrier.

Singapore-based LPG specialist Epic Gas saw its full year loss widened to $23.3m in 2016 compared to the deficit of $16m in 2015, due partly to a $9.9m impairment charge.

Singapore-based LPG specialist Epic Gas has widened its loss for the three months ended 30 September 2016 on the back of a tough quarter.

The pressurised LPG shipping market continues to stay under pressure as a reduction in fleet growth in the last quarter has been overshadowed by the tonnage glut and changes to tonne-mile demand, according to Epic Gas.

The pressurised LPG shipping market is continuing to “bounce along the bottom” amid an oversupply of tonnage and a further sliding of rates for smaller and older ships in the past 12 months, according to Epic Gas.

LPG carrier owner and operator Epic Gas remained in the red in 2015 but managed to narrow the losses from the previous financial year, amid an overall weak market.

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