Singapore’s BW Epic Kosan (BWEK) has continued to divest smaller LPG carriers.
Expanding Greek owner Erasmus Shipinvest, led by John Su, has been named by brokers as the buyer of a trio of the BW Group-backed company’s Japanese-built vessels: the 5,019-cbm Epic St Agnes and Epic St Ivan (both built 2015), and the 5,017-cbm Epic St Martin (built 2008).
Prices were not disclosed, but VesselsValue assesses the 2015 units as worth $16m each and the older vessel at $11m.
Time charter deals are said to be included.
BWEK told TradeWinds it does not typically comment on individual vessel deals.
The company is proactive in the management of its fleet, both in sales and in purchases, however.
It is the largest owner/operator of smaller gas carriers, with a fleet of more than 50 gas vessels mainly over 7,500 cbm in size.
Two newbuildings are expected in 2025 and 2026.
The sales would make it eight disposals this year for BWEK, with two bigger ships built in 2010 and 2012 joining the fleet.
Brokers also report the sale of BWEK’s 5,015-cbm Epic St Croix (built 2014) to Arne Blystad’s Songa Shipping for an undisclosed price.
Erasmus building gas fleet
Erasmus itself bought three BWEK gas carriers earlier this year.
The Greek group worked with Japanese partners on the deals, TradeWinds reported.
Su has been targeting expansion in the LPG and container segments, and at least three such vessels joined the company’s fleet earlier this year.
One of them was the 1,096-teu Kiso (renamed ANL Kiwi Trader, built 2023).
Shipping databases list Erasmus as the new owner and manager of the Kyokuyo Shipyard-built boxship, which was reported sold by Japan’s Imoto Lines for $26m.
Su’s acquisitions are in line with his stated expansion targets.
Previously a pure-play bulker man, the owner expanded into container ships and told TradeWinds in April that he had assembled eight gas carriers, with the hope of eventually developing a fleet of up to 20 such vessels.
Two 6,900-dwt LPG ships are on order for delivery next year from Kyokuyo in Japan.
Erasmus has been contacted for comment.
