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Epic Gas continues in the red

Singapore-based Epic Gas suffered a USD 3 million deficit, while the carrier's revenue grew significantly due to a higher number of ships in the fleet, according to the interim report.

Photo: Privat

Gas carrier Epic Gas, based in Singapore and headed by Danish Lars Vang Christensen as CEO, saw its net deficit increase in the 3rd quarter, to USD 3 million, compared to a deficit of USD 1.3 million in the same period last year. Meanwhile, the carrier's revenue grew 51 percent in the period, to USD 33.1 million.

This growth was driven by more voyage days resulting from a bigger fleet, according to the carrier's interim report, though the costs for the higher number of ships also increased, and this means that the bigger revenue did not pay off on the bottom line.

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