Tradewinds: MLEP targets $200m raise for chemical carrier buys
Darrell Crate, CEO of Easterly Asset Management’s Maritime Logistics Equity Partners (MLEP), announced a second tranche totaling $200-$250 million for the purchase of chemical tankers, helping investors benefit from dislocations in a market in which tankers are in short supply, demand is growing and future orderbooks are low. MLEP is acquiring pre-owned tankers, refurbishing them and putting them out for hire. Crate said, “I think we’ll be opportunistic as the market develops, but we are excited to run these ships. With the type of capital we target, we are able to move swiftly. People have confidence in our ability to execute deals. That’s an advantage in this market. We can purchase assets at a fair price and also satisfy the expectations of our investors.” Read more.