Beverly, MA–(business wire) — (Easterly) Maritime Logistics Equity Partners (MLEP) of Easterly Asset Management, which was formed in 2021 to acquire marine transportation assets, today announced the acquisition of four additional vessels through MLEP’s second chemical tanker investment tranche. announced that it had acquired The acquisition brings the MLEP fleet to her eleven ships. The newly purchased vessels are all coated chemical tankers and will be the largest chemical tankers in the MLEP fleet. The four new ships are:
Eastern Sirius (2010 built, 36,667 DWT)
Easterly Symphony (built 2009, 36,667 DWT)
Eastern Jupiter (built in 2009, 36,667 DWT)
Easterly Canyon (built 2009, 26,667 DWT)
“The new MLEP acquisition demonstrates the attractiveness of our focus on profiting from the substantial disruptions and opportunities in the international shipping market by acquiring chemical tankers. With seven ships, we have already seen the demand for such tankers potentially generating high levels of income for investors and we continue to seek new investment opportunities in the shipping sector.”
Launched in September 2021, the MLEP seeks to take advantage of limited supply and rising demand for chemical tankers, fewer future orders for newbuildings, higher trade and daily rates. increase. In addition to her four newly acquired chemical tankers, MLEP already owns seven stainless steel and coating tankers.
Eastern Lee Osprey
hawk of the east
Eastern AS Omalia
Eastern AS Olivia
Eastern beech galaxy
Eastern Lime Galaxy
Both MLEP’s investment tranches are driven by increasing global demand for the transportation of bulk liquids such as palm oil, molasses, raw materials and other commodities, and the ever-limited capacity to build vessels to provide such transportation. designed to take advantage of tanker capacity deficits caused by Since then, shipbuilders have concentrated on other types of much larger vessels. And with rising steel and labor costs, newbuilding costs are now at their highest level in 12 years. Finally, pending new industry rules resulting from IMO 2030 regulatory changes add even more uncertainty.
MLEP’s strategy is to take advantage of this supply and demand imbalance to acquire 10- to 15-year-old tankers that still have years of production life left. MLEP puts these vessels up for rent through WOMAR, one of the industry’s largest independent chemical tanker pool operators. All 11 of her MLEP vessels are now in the WOMAR tanker pool.
“This is unique in that it not only addresses true market disruption in a sector that is difficult to access and opaque, but also provides downside risk protection through the valuation of scrap steel remaining at the end of a vessel’s useful life. It’s a great investment opportunity,” Collins. “By working with an experienced partner like WOMAR, we can maximize our ability to generate returns for our investors.”
About Maritime Logistics Equity Partners
Maritime Logistics Equity Partners (MLEP) is a company formed to raise capital to take advantage of opportunities in the international shipping market. The purpose of MLEP is to provide investors with attractive levels of regular income and capital returns by investing in previously owned chemical tankers. MLEP expects a strong chemical tanker market due to historically low orders, lack of liquidity in new tanker capital markets, growing ton-mile demand for chemical tankers and additional cargo coming online after 2023. I’m here. Investors can gain exposure to her MLEP through a private placement sponsored by Easterly Asset Management.
About Easternly Asset Management
About Easterly Asset Management (Easterly) is a high performance boutique investment manager multi-affiliate platform. Eastly is committed to bringing innovative investment strategies to investors by partnering with quality managers who have deep domain expertise and are artisans in their respective asset classes and investment processes. We support our partners by providing best-in-class solutions in sales, marketing, operations, technology, human resources and finance to grow their businesses. We also offer affiliates the opportunity to access retail and institutional distribution services through platform partnerships. With 20 investment professionals across 7 affiliates, we offer a variety of products including separate accounts, SMAs, ’40 Act Funds, CITs and private placements. As of the end of December 2022, Easterly had $3.1 billion in assets under management. For more information, visit Easterly at https://easterlyam.com/.
WOMAR is an experienced industry-scale tanker pool operator operating acquired vessels. WOMAR is one of the largest independent pool operators in the chemical tanker space. We have 5 offices around the world. Rotterdam, Netherlands. Mumbai, India. Houston, Texas; and Stamford, Connecticut. WOMAR’s senior management has been with the company for over 10 years and has deep industry experience. WOMAR leverages global trade synergies by deploying tonnage worldwide and being local in key key areas. For more information, please visit https://www.womarpools.com.