De Chateauvieux controlled Jaccar to expand gas and bulk activities

Jacques de Chateauvieux controlled Jaccar Holdings is to develop its shipowning and operating activities in the gas and dry bulk sectors. Its fully owned Singapore subsidiary Greenship Holdings has set up two separate entities for this purpose, Greenship Gas and Greenship Bulk.

Greenship Holdings is aiming to own and operate advanced, fuel efficient and environmentally friendly vessels. Its original commitment, totaling 30 vessels in the gas and dry bulk sectors, with a total investment of around $900 million, has a secured financing structure and will go into operation in full within the next two years.

GAS

Greenship Gas, fully owned by Greenship Holdings, has been established with the two-fold strategy of combining effective asset management with unparalleled in-house operations. It ows 100 percent of Danish based Evergas (formerly Eitzen Gas and Eitzen Ethylene Carriers), its team of professionals handles all facets of the existing fleet of eight vessels and the 18 highly advanced vessels and options on the order book.

This year Evergas will take delivery of the first of six in the state-of-the-art fully pressurized LPG Tiger 5000 cu.m series which will be commercially operated by GasChem Services and technically managed by Hartmann Schiffahrts. Next year, Evergas will take delivery of the first in a series of 12 liquid ethylene carriers which will be added to the existing fleet of 13 vessels operated together with Solvang.

All newbuildings have been ordered from China’s Sinopacific Offshore & Engineering shipyard in which Jaccar has a 23 percent stake

BULK

Wholly owned by Greenship Holdings, Greenship Bulk is now the full owner of SETAF Group, a well known bulk shipping company that will continue to operate under its founder Jean-Louis Bottaro supported by his team of professionaly.

Greenship Bulk says it invested in a first series of eight new generation Ultramax 63.000 ton deadweight ships just at the right time. They were built in Yangzhou Dayang Shipyard, with environmentally friendly features and low consumption parameters under the direct supervision of SETAF’s technical team.

The first of these vessels, JS AMAZON, was successfully delivered on 1st March 2012 and the second ship, JS COLORADO, will be delivered by the end of March 2012.

Greenship Bulk will continue to invest in the dry bulk carrier segment, at the right time, with the deep technical and commercial involvement of the team that is essential for the success of those ventures.

Greenship Holdings intends to further expand its investments in green and advanced ships while opening up equity partnership int any Greenship entities to other investors.

May 28, 2011