Easterly Asset Management’s (“Easterly”) Maritime Logistics Equity Partners (“MLEP”) today announced the launch of its third chemical tanker investment tranche with the acquisition of two additional vessels. Easterly MLEP offers investors unique access to investment opportunities that take advantage of the dislocations in the international shipping markets. The acquisition solidifies Easterly’s position as one of the largest western fleets of chemical tankers in the world with 13 vessels, reports Yahoo.
Biggest tankers
The newly purchased stainless steel tankers are among the biggest chemical tankers in the Easterly MLEP fleet. The new tankers in the fleet are:
- Easterly Eagle (built 2010, 25,390 DWT)
- Easterly Birdie (built 2009, 25,400 DWT)
“As investors seek to navigate the unprecedented dynamics in today’s markets, the dislocations and opportunities in the international chemical shipping markets are well-suited to help investors take the helm,” said Darrell Crate, Founder and Managing Principal of Easterly Asset Management. “Easterly MLEP is well positioned to continue helping our investors take advantage of the swelling imbalance between supply and demand in this market.”
Since launching in September 2021, Easterly invested $138.3M in 11 vessels through two tranches currently valued at $217.5M. Easterly MLEP was formed to capitalize on imbalances in global commodity transportation capacity driven by surging demand and constrained supply by purchasing and operating pre-owned chemical tankers. Easterly’s chemical tanker fleet transports essential liquids, including palm oil, molasses and feedstocks. The strength of the market persists amidst shrinking supply, with chemical tankers retiring faster than new ships are built. Meanwhile, global demand for chemical transport continues to grow.
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Source: Yahoo
