Greathorse Chemical, owner and operator of small to mid-sized chemical tankers, will also receive investments of $65m from other financial investors, bringing the total initial investment to $160m.
Greathorse Chemical plans to use the proceeds from the investments to fund the construction of stainless steel chemical tankers and acquire them from the resale market.
“We think that the chemical tanking business offers attractive returns for investors as we believe the demand for chemical shipping services is expected to grow over the next several years,” said Graham Porter, chairman of Tiger Group Investments.
Greathorse Chemical has an existing fleet of eight vessels and a further four under construction. Over the next few years, the company aspires to become a leading Asian owner and operator of chemical tankers.
The website of Tiger Group Investments lists Greathorse Chemical as one of its portfolio companies.
Kanad Virk, managing director of SCPE, said: “This investment is a landmark deal for our energy, resources and infrastructure team as it represents our first deepwater shipping investment.”
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