The family-run Eitzen Group expands its shipping business with the acquisition of the shipping company B-Gas.

Bergshaven Shipholding is the seller of the Danish shipping company and its subsidiaries.

B-Gas is based in Hellerup, Denmark, and operates a fleet of LPG vessels carrying liquefied petroleum gas. Here, ten vessels are owned and operated by the shipping company itself, while two vessels are under management from Seapeak. Additionally, one vessel has been brought in on time-charter. 

Acquiring B-Gas is another big step in Eitzen’s ambition in becoming a leading owner and operator of liquefied gas carriers and we are very pleased that we have now secured a strong foothold in the coaster gas market,” Axel C. Eitzen, executive chair of Eitzen Group, comments in an announcement on the acquisition.

Eitzen Group already owns the Danish chemical carrier Christiania Shipping, formerly known as Herning Shipping, acquired in 2018.

”We are very positive about the outlook for the LPG and Petrochemical business in Northwest Europe and we see synergies between B-Gas and our chemical company Christiania Shipping, which operate with same size of vessels in the same geographical

markets,” Axel C. Eitzen adds.

With the acquisition, B-Gas becomes part of Eitzen Group, which in addition to Christiania Shipping also includes design companies Høglund and Zen Oceans, which make energy-saving technologies for ships, as well as financing company E Capital.

Eitzen Group buys the entire company, but B-Gas’ team and daily operations will continue unchanged, explains chief executive Andrew C. McPhail to ShippingWatch.

The press release does not provide details on the price of the transaction.

Axel C. Eitzen’s son, Fridtjof C. Eitzen, is today CEO of Christiania Shipping. Today is the group’s main business with a fleet of 19 chemical tankers.

”The tanker market has developed very positively in 2022, and it also looks very promising for 2023, but now we have to see what happens. There are always many factors at play,” Fridtjof Camillo Eitzen previously told ShippingWatch. 

(Translated using DeepL with additional editing by Christian Radich Hoffman)