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Skaugen Gas, a prominent player in the maritime industry based in Norway, has successfully completed the acquisition of a vessel for a substantial sum of $25 million. Notably, the buying company retains a 35% stake owned by the sellers, indicating a robust partnership that is expected to benefit both parties in future endeavors.

I.M. Skaugen SE has announced the sale of its LPG/Eth Gas Carrier, 'Norgas Sonoma,' to Skaugen Gulf Petchem Carriers B.S.C. (SGPC) for $25 million. The 'Norgas Sonoma,' a sophisticated 8,556 cbm SR vessel constructed in 2003, was officially handed over to SGPC on June 27, 2013. SGPC, a strategic ally of I.M. Skaugen with a 35% ownership stake held by I.M. Skaugen, specializes in liquefied gas transportation and is part of the core operations of IMS. Following this transaction, I.M. Skaugen will reduce its equity interest in the vessel from 100% to 35%, impacting the consolidated reporting of the vessel's earnings. Despite the ownership change, 'Norgas Sonoma' will maintain its operations within the Norgas pool, continuing under Norgas management.