Epic Gas books million dollar deficit in Q3

Carrier Epic Gas suffered a larger loss in the third quarter 2016 despite growing demand for LPG transport. The company's fleet continued to grow during the quarter.

Photo: Epic Gas

Singapore-based LPG carrier Epic Gas can look back on a seasonally weak third quarter, in the wake of a summer similarly characterized by sluggish trading in liquefied natural gas (LPG).

Epic Gas booked a net loss of USD 5 million, down from a loss of USD 300,000 in the same period 2015, while revenue experienced a much smaller setback and came to USD 31.3 million against USD 32.2 million in the third quarter last year, according to the Q3 interim report Thursday.

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