Ultragas is now named Ultranav, and the company has received a capital increase of 7 million USD, reveals a release from the CVR register. The name change was announced a while ago and the increased capital will strengthen the company’s future operations, explains board member Carsten Haagensen to ShippingWatch.
“It is a transaction which strengthens our balance sheet and enables us to liquidate some of our loan liabilities. But it is not like we will be buying ships and stuff left and right. It is more a question of getting rid of some loan liabilities and thereby obtaining a cleaner balance sheet,” says Carsten Haagensen.