FLEETS Last year HCB reported ‘cautious optimism’ in the LPG trade. That caution extends to newbuilding activity, which once more has allowed the sector to out-perform other bulk liquids trades. That performance is encouraging interest from new owners
Camillo Eitzen has completed the sale of its non-ethylene semi-refrigerated LPG carriers as well as its shareholding in Eitzen Gas and the back-to-back leases on its five fully pressurised LPG tankers.
MARKET Eitzen’s struggles with the market downturn look likely to result in the Danish company being bought by BLT of Indonesia. Meanwhile, Eitzen is finding the going difficult as poor demand is impacting income levels
Camillo Eitzen, parent company of Eitzen Gas and Eitzen Chemical, has posted first quarter pre-tax profits of $58.7m, down from the $100.8m recorded last year following a reduction in its bulk tanker fleet.