LAUGFS buys third LPG carrier vessel for $ 2.875 m

LAUGFS Maritime Services, a fully-owned subsidiary and the maritime arm of LAUGFS Gas, has purchased another Liquefied Petroleum Gas (LPG) carrier vessel for $ 2.875 million.

The vessel renamed ‘Gas Courage’ under the Sri Lankan Flag is the third vessel of LAUGFS Maritime Services.

The company said in a stock exchange filing LAUGFS Maritime Services is operating as a project approved by the Board of Investment of Sri Lanka to carry out sea cargo operation services.

LAUGFS Maritime Services purchased its second Liquid Petroleum Gas carrier vessel ‘Gas Dorado’ with a total investment of $ 6 million in October 2015.

Its maiden acquisition of LPG ship MT ‘Gas Challenger’ was made in 2014, marking its entry into the maritime business.