Japanese shipbuilder Mitsui Engineering & Shipbuilding (MES) has acquired German liquefied gas tank maker TGE Marine AG.
MES said it will pay EUR164 million (USD200 billion) to acquire TGE Marine from its owners, which comprise Caledonia Investments, Gasfin Investment, and Dr Kuver GbR. The latter is a partnership run by TGE Marine’s CEO.
TGE Marine designs type C pressurised gas tanks and gas handling systems, and supervises construction of small- and mid-sized gas carriers. It has become a market leader for small LNG and ethylene carriers and the company is also expanding in floating gas storage.
MES has been specialising in building bulk carriers but it told IHS Maritime it sees opportunities in LPG and LNG carriers due to the emergence of more exports from the US Gulf.
The shipbuilder has created designs for a multi-gas carrier as it foresees demand for LNG, LPG, ethane, and ethylene.
MES said, “The technology and the engineering and construction know-how, along with the strong customer bases at MES and TGE are expected to be highly compatible with each other.”