Easterly Asset Management has formed Maritime Logistics Equity Partners, a new company formed to take advantage of the opportunities in international shipping markets, including the chemical tanker shipping sector.
“There is a compelling opportunity to invest in pre-owned chemical tankers, given the limited supply and growing demand for the vessels, a low future orderbook for shipping construction and the expansion of chemical trade lanes,” said Darrell Crate, managing principal of Easterly Asset Management and MLEP’s chief executive officer. “Like the oceans themselves, the opportunities are vast.”
In its first transaction, MLEP acquired two stainless steel chemical tankers, the Easterly Beech Galaxy and the Easterly Lime Galaxy, from CIDO Shipping.
WOMAR chief executive officer Hans Van der Zijde said, “We welcome the opportunity to work with MLEP and to build a long-lasting commercial asset management relationship. Since September 2019, we have been working closely with US private equity investors and feel WOMAR has a unique product offering for institutional investors becoming ship owners.”