The Petredec Group is pleased to announce the formation of Petredec Global, comprising Petredec’s trading platform as well as our modern fleet of 27 VLGCs.
Petredec Global is exploring the possibilities of a public listing and would be the world’s first fully integrated VLGC shipping and trading company listed on a stock exchange.
The company is uniquely positioned to benefit from a call on US shale, growing US production, increasing global demand for LPG, and a widening LPG arbitrage.
Through a fleet of 27 modern VLGCs, including six dual fuel newbuilds, Petredec Global is the second largest VLGC owner with a significantly higher ECO, scrubber & dual fuel penetration, and the lowest fleet age among its peers.
“We are proud of the significant growth the Petredec Group has had over the last decade and are pleased with our market leading VLGC & Trading platforms cultivated over this period. However, Petredec is not a company that stands still and looks back. We remain heavily focused on future asset growth within our other shipping and on-shore divisions. The Group’s strategic goal to expand our footprint in the LPG value chain through terminals and distribution in emerging markets such as India, South & East Africa, and the balance of the Indian Ocean basin can only benefit the Petredec Global platform and the market as a whole through increased demand for LPG”
– Petredec Group CEO Giles Fearn
“With 90% of our fleet positioned for premium earnings due to ECO, scrubber & dual fuel technology, combined with consistent earnings from Trading, Petredec Global’s fully integrated model is well-poised to continue to deliver premium profits to our shareholders. This unique offering along with a highly attractive market outlook, the call on US shale, and improving arbitrage will set Petredec Global up to generate premium cash flows and return attractive dividends.”
– Petredec Global CEO Jonathan Fancher
DNB Markets, a part of DNB Bank ASA, and SEB Corporate Finance, a part of Skandinaviske Enskilda Banken AB have been engaged as Joint Global Coordinators and Fearnley Securities AS and Pareto Securities AS as Joint Bookrunners to assist in the contemplated IPO process.
