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Foresight close to VLGC deal as Mehrotra eyes 10-ship fleet

October 17, 2022

Ravi Mehrotra has raised the target for fleet expansion at his London-based Foresight Group.

The executive chairman and founder confirmed to TradeWinds that the company has bought Belgian owner TransPetrol Maritime Services’ 82,000-cbm VLGC Progress (built 2009).

Brokers put the price at $50m.

“Our team at Foresight has been making exciting progress during this year so far,” Mehrotra said.

“Not only we have bought another VLGC, Progress, but are in the process of taking delivery of another VLGC.”

The chairman said he could not yet disclose details.

Another buy would bring the VLGC fleet to four units.

The company is “on track to have minimum six VLGCs by June 2023”, Mehrotra said, which raises its ultimate target for fleet expansion.

“The group is committed to expand the shipping fleet of gas carriers to a minimum of 10 ships before the end of 2023,” he told TradeWinds.

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