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Epic Gas secures financing

Singapore-based Epic Gas has secured USD 46.4 million in new financing. The funds have been used to purchase five LPG tankers.

Photo: Privat

One of the equity funds (CIT Maritime Finance) under the major global financing group CIT Group - which operates within the transport sector - has provided Singapore-based gas carrier Epic Gas with USD 46.4 million in financing aimed at acquiring new ships, according to the Wall Street Journal. The credit facility was partially used for acquiring five LPG tanker vessels, including three newbuildings and two second-hand - though modern - gas ships.

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