Sri Lanka’s Laugfs buys third LPG carrier vessel for USD2.9mn

laugfs-vessel

Jan 06, 2017 (LBO) – Sri Lanka’s Laugfs Maritime Services has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for 2.875 million US dollars.

The company said in a stock exchange filing that the vessel earlier named as “Lady Martine” will be renamed as “Gas Courage” under the Sri Lankan flag.

Laugfs Maritime Services private limited is a fully owned subsidiary and the maritime arm of the Laugfs Gas PLC, which operates with Board of Investments of Sri Lanka approval to carry out a business of sea cargo operation services.

In 2015 October, Laugfs Maritime Services said it acquired their second LPG ship to provide logistic support for the growing LPG demand in the country.

This second acquisition was made with investment of 6 million US dollars and has a capacity to carry 3,500 M/tons of LPG.

Its maiden acquisition of LPG ship MT “Gas Challenger”, with a capacity to carry 3,500 m/tons of LPG, was made in 2014 marking its entry into maritime business.

Laugfs Maritime provides ocean freight services and related logistics to the LP gas downstream industry in the region.