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E4C Shipping Pte Ltd places first order

E4C Shipping Pte Ltd places first order
Carsten Mortensen, founding partner of Dee4 Capital Partners

22-07-2020 12:30:23

The newly-formed joint venture company E4C Shipping Pte Ltd, is pleased to confirm an order of 2 - 4 MR product to be built by Hyundai Mipo Dockyard Ltd. E4C is comprised of entities and individuals affiliated with ECCO Holding, Gunvor Group Ltd and Dee4 Capital Partners.

“We are delighted to place an order for vessels of such a high specification from the pre- eminent product tanker shipyard in the world. We look forward to working alongside our highly professional investment partners on this transaction”, says Carsten Mortensen, founding partner of Dee4 Capital Partners.

When delivered, the vessels will be amongst the most fuel-efficient product tankers operating in the world, demonstrating substantial savings on CO2 emissions as against existing tonnage on the water, for the benefit of the environment and in savings to the owners and charterers of the vessels.

E4C will be managed by a board representing the investors. Day-to-day operations will be overseen by Dee4 Capital Partners, reporting to the board of E4C.

ECCO Holding was founded in 1997 and is the holding company of ECCO Sko (brand known as “ECCO”), which engages in the design, development, manufacturing, and retail of primarily footwear products.

Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. With strategic investments in assets that complement core trading activity— shipping, refineries, pipelines, storage and terminals—Gunvor generates sustainable value across the global supply chain for its customers.

Dee4 Capital Partners is a Danish private equity firm, managing funds which invest in shipping, transport & logistics, energy, offshore and infrastructure. The firm was founded by Carsten Mortensen and Freddie Lee in 2019.

Source: Dee4 Capital Partners

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