Eastern Pacific Shipping (EPS), a Singapore-based company owned by Israeli shipping magnate Idan Ofer, plans to sell more than ten vessels in a bulk transaction to restructure its fleet.
Specifically, Eastern Pacific Shipping intends to sell its entire fleet of 14 chemical tankers as a single package, thereby completely exiting the chemical tanker business. The entire fleet will be transferred to Ace Tankers and Womar Tankers for operation. The transaction is expected to be completed this week, subject to customary conditions.
The individual vessel capacities in East Pacific Shipping’s chemical tanker fleet range from 19,000 to 26,000 deadweight tons, including three newly built vessels; all vessels were previously managed commercially by Ace Quantum Chemical Tanker (AQCT).
East Pacific Shipping stated that this asset disposal is part of the Group’s overall fleet portfolio strategy, aimed at concentrating resources and capital on its core business areas and future growth opportunities.
In recent years, East Pacific Shipping has been committed to steadily adjusting its fleet structure, increasingly focusing on container ships, liquefied gas carriers, car carriers, and crude oil tankers, while also advancing one of the industry’s largest newbuilding programs for alternative-fuel vessels.
It is reported that East Pacific Shipping has placed orders in 2026 for two 90,000–cubic-meter VLACs and two 175,000-cubic-meter LNG carriers, all to be built by Jiangnan Shipyard; it has also ordered two Suezmax tankers from Guangzhou Shipyard International. Currently, the shipping company has orders for more than 150 new vessels across multiple shipping sectors.