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Overview
Raising $257 million of debt and equity mix to finance the purchase of ten second-hand, medium range, 45-50 deadweight tons, double hulled, stainless steel, specialty chemical tankers.
Increased global GDP and trade combined with a shortage of ships to haul specialty chemicals has led to rising time charter rates and asset prices, presenting a compelling investment opportunity.
Specialty chemical shipping is growing >8% per year
Revenue generation from purchase charter back contracts with major chemical producers
Tanker purchase and time charter contract opportunity has been identified
Equity closing after execution of all ship purchase contracts, vessels inspections, time charter contracts, insurance contracts, debt agreements and vessel registrations
Solution/Strategy
Execute charter contracts from major chemical producers who pay for all fuels to operate the vessels
Establish transportation routes between private terminals
Implement a portfolio mix of chemicals and their feedstock – refined petroleum, acids, chemicals, palm and vegetable oils
Execute contract with third party to crew and operate the ships
Equity closing after execution of all ship purchase contracts, vessels inspections, time charter contracts, insurance contracts, debt agreements and vessel registrations
