Maritime Logistics Equity Partners (MLEP) is looking to acquire between 15 and 20 chemical tankers with a war chest of $150m-$250m it plans to raise following its recent shopping spree.<\/p>\n
Launched by the Massachusetts-based Easterly Asset Management, MLEP has, so far, in its first tranche, acquired four ships built in 2007 and 2008. All four ships, namely the\u00a0Easterly Beech Galaxy<\/em>,\u00a0Easterly Lime Galaxy, Easterly AS Omaria<\/em>\u00a0and\u00a0Easterly AS Olivia,<\/em>\u00a0are 20,000 dwt Japanese-built stainless steel chemical tankers.<\/p>\n In its second tranche, MLEP said it plans to acquire all sizes of chemical tankers, including stainless and coated vessels of larger sizes such as MRs and handysize tankers, in response to industry trends, as well as a decline in the building of chemical tankers intended for the transport of bulk liquids such as palm oil, molasses, feedstock, and other commodities.<\/p>\n \u201cThere continues to be compelling opportunity to invest in pre-owned chemical tankers, given the limited supply and growing demand for the vessels, a low future orderbook for shipping construction and the expansion of chemical trade lanes,\u201d said Darrell Crate, managing principal of Easterly and MLEP\u2019s CEO. \u201cWe now know that the dislocation and subsequent investment opportunity is greater than we first thought, and not just in the stainless steel sub-sector, but also more broadly in other sized chemical tankers as well.\u201d<\/p>\n The company is acquiring tankers built during a construction boom that peaked in 2008 and putting them out for hire through Womar\u2019s tanker pools. \u201cWe welcome the opportunity to continue to work with MLEP and to build a long-lasting commercial asset management relationship,\u201d added Hans Van der Zijde, CEO of Womar.<\/p>\n