Boston Carriers to purchase Nuova Abibes

Boston Carriers has entered into an exclusivity agreement for the acquisition of Nuova and all its assets and liabilities including but not limited to the storage facility in Italy as well as all its business, licenses and trademarks.

Nuova’s storage terminal has been distributing an average of 152,333 metric tonnes of LPG each year since 2000. Current projections for LPG distribution show approximately $85m of revenues. This agreement will allow Boston to allocate time and resources to conduct further due diligence.

Nuova is a leading LPG storage company which owns the largest LPG storage terminal in northern Italy. This is a first step for Boston and Nuova on their plan to explore synergies, identify acquisition opportunities for LPG carrier vessels and inland storage facilities, exchange market expertise and creating an integrated platform that will transport, import and distribute LPG in Italy.

Antonios Bertsos, Chairman and Chief Executive Officer, stated: “This is the perfect moment to enter the LPG transportation and distribution business. LPG is a product with increasing demand which will only grow stronger as the world is shifting towards clean energy.”

For more information, visit: www.bostoncarriers.com

14th May 2018