US investment bank JP Morgan is said to have stepped up its presence in the large LPG carrier arena after buying two Chinese-built VLGCs.
JP Morgan Asset Management’s Global Transportation Group is said to have acquired the pair from Oriental Energy — also known as Donghua Energy — paying a premium on market valuations for the vessels.
Gas specialists said JP Morgan acquired the Jiangnan-built 84,000-cbm Keegan No 1 and Keegan No 2 (both built 2020), for between $92m and $93m each.
