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Trade tensions slow down Evergas' ambitions for more ships

2018 was far from the turning point Evergas had hoped for. The gas shipping company's future lies in the ethane market from the US to China, but the trade war has slowed down the plans to buy even more ships, CEO Steffen Jacobsen tells ShippingWatch.

Sidste uges bedste på ShippingWatch

Med flere store opkøb stjal tankmarkedet overskrifterne i sidste uge. Nordic Tankers får således ny ejer, mens både Evergas og BW Group har solgt skibe fra. Samtidig var der nyt om DFDS' bestræbelser forud for brexit og shippings omfattende brug af konkurrenceklausuler.

300 carriers own between one and five chemical tankers

The chemical tanker market is extremely fragmented, according to new figures following this week's deal between Nordic Tankers and BW Group. Several market players have stressed the need for consolidation for a long time.

Evergas sells its ethylene fleet: "Enough is enough"

Shipping company Evergas pulls the plug on its ethylene business after five loss-making years. All eight ships have been sold. "The ships were bought at too high a price," CEO Steffen Jacobsen tells ShippingWatch.

Evergas CEO sees 2018 as a turning point

2018 could become a better year for Evergas after several years plagued by deficits. All markets are showing signs of improvement, CEO Steffen Jacobsen tells ShippingWatch.

Evergas mixed up in owner's debt problems

Gas tanker carrier Evergas has been forced to change its debt to short-term amortization because its French owner violated the conditions of its loan agreement around the new year. The owner has since received a deferral on the debt and is working on a new deal.

Evergas maintains growth ambitions despite failed acquisition

Bourbon's takeover of Evergas has been completely shelved, but the failed shift in ownership has not impeded growth ambitions at Evergas, emphasizes CEO Steffen Jacobsen in an interview with ShippingWatch after the release of the 2016 annual report.

Evergas forms new gas pool with Greece's Eletson

Tanker carrier Evergas has formed a new pool collaboration with Greek-based Eletson under the name E3 Pool. "Broader supply, a uniform product, and good for the environment," Evergas CEO Steffen Jacobsen tells ShippingWatch about the new venture.

Insurance problem for carriers in Iran has been solved

Although the sanctions against Iran were lifted more than one year ago, it has not been possible for carriers to get full insurance coverage. According to the Danish Shipowners' Association and insurance company Skuld, this problem has now been solved.

"Shipping is hard, that's just how it is"

These are the words of Evergas CEO Steffen Jacobsen, just one year after taking over as head of the carrier. In an interview with ShippingWatch, he talks about the plans for stabilizing the carrier's finances after a disappointing deficit in 2015.

Large-scale Bourbon takeover gives Evergas new owners

France's Bourbon has acquired several companies from Jaccar Holdings, including tanker carrier Evergas. Bourbon's plan is to divest vessels, with the idea being that Evergas will bareboat charter vessels from a business unit that raises financing, the carrier's CEO Steffen Jacobsen tells ShippingWatch.

Temporary insurance solution for Iranian voyages

According to the Danish Shipowners' Association, a temporary solution has been found for the challenges related to the lack of insurance which has hindered transports to and from Iran. Evergas is pleased with a model that works here and now.

Evergas: Three big challenges in trading with Iran

The world's presumably second-largest gas deposits are ready for export in Iran, on which trade sanctions are now being lifted. But there is a long way to go before the flow of gas will once again trade out of Iran, the carrier tells ShippingWatch. Lauritzen Kosan agrees.

Evergas orders four ethylene newbuildings

Gas tanker carrier Evergas has just ordered four ethylene/ethane newbuildings, with an option for two more. Despite having dimensions similar to previous vessels, the new vessels have a bigger capacity.

Evergas-ejer i kinesisk milliardaftale

Det Luxembourg-baserede investeringsselskab Jaccar, der blandt andet ejer danske Evergas, har i forbindelse med den kinesiske premierministers besøg i Frankrig underskrevet en hensigtsaftale om milliardfinansiering til gasskibe.

Solid kontraktdækning giver ro hos Evergas

En solid kontraktdækning på skibene i Evergas' flåde modsvarer det pressede marked for mindre trykskibe og lidt lavere voluminer af ethylen, siger CEO Steffen Jacobsen. Han ser frem til nye skibe i flåden om kort tid.

Evergas lands small profit in 2014

Danish tanker carrier Evergas managed to turn a major deficit from 2013 into a small bottom line profit in 2014. The carrier projects continued growth in 2015.

Evergas sikrer mindre plus i 2014

Det danske tankrederi Evergas formåede i 2014 at vende et stort minus fra 2013 til et plus på bundlinjen. Rederiet forventer, at væksten kan fortsætte i 2015.

Last week's top stories on ShippingWatch

New dramatic slides in the container rates between the Far East and North Europe, a new heavy lift carrier based in Hamburg, and the consequences of the plummeting oil price in the oil industry and tanker market characterized the past week on ShippingWatch.

New Evergas CEO: We need to start on LNG

Evergas' new CEO, Steffen Jacobsen, is ready to get the tanker carrier working on LNG transports. "Many exciting projects out there in spite of a challenged shipping market," he tells ShippingWatch.

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