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European Maritime Finance (EMF), in collaboration with Atlas Maritime, has completed the sale of the Electric Star, a dual-fuel LNG Pure Car Truck Carrier (PCTC) that can carry 7,000 cars.
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The sale highlights the growth of the automotive transport sector and the shift towards sustainable maritime fuel solutions like LNG.
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The vessel has been sold to Noatum Maritime, part of Abu Dhabi’s AD Ports Group, with Atlas Maritime and EMF delivering strong returns to their investors.
European Maritime Finance (EMF), in partnership with Atlas Maritime, has successfully sold the Electric Star, a dual-fuel LNG Pure Car Truck Carrier (PCTC) designed to transport up to 7,000 cars. This sale signifies the growing shift towards LNG-powered maritime vessels as the industry moves away from heavy fuel oil to cleaner energy sources. The deal reflects the resilience of the automotive transport sector.
Partnership and Investor Success
Martin Haugaard, Founder and CEO of EMF Schweiz AG and Chairman of the Investment Committee, shared his pride in the successful project:
“We are proud to deliver another successful project to our investors. The vessel is sold to Noatum Maritime, the shipping arm of Abu Dhabi-based AD Ports Group. We would like to thank our partners at Atlas Maritime for their exceptional performance and consistency in delivering strong results resulting in optimised returns for our investors and EMF.”
Strategic Approach Leads to Profitable Outcome
Both Atlas Maritime and European Maritime Finance have built a strong reputation for delivering positive returns to their investors over the past decade. Leon Patitsas, CEO of Atlas Maritime, discussed the strategic foresight that led to the success of the Electric Star project:
“Electric Star was ordered during the low point of the PCTC market amid Covid-19, which was a contrarian approach. We analysed the fundamentals, fleet demographics and anticipated that demand for cars would rebound after Covid. Our thesis proved correct, as we witnessed a significant increase in the export of electric cars from China–rising from 1 million to nearly 6 million cars per annum – a phenomenal growth. Consequently, the demand for Car Carriers increased, driving up asset values. We have a disciplined investment approach together with EMF and are committed to realizing profits when there is a strong return for all our shareholders.”
Commitment to Sustainable Investment
This successful sale demonstrates the proven investment strategy of both EMF and Atlas Maritime. Their sustainable approach and forward-looking investments ensure a profitable future for shareholders, especially as demand for sustainable and efficient vessels like the Electric Star continues to grow in the maritime industry.
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Source: European Maritime Finance
