Laugfs Gas PLC has incorporated a fully owned subsidiary under the name Laugfs Maritime Services Private Limited as a Board of Investment (BOI) approved project.

Laugfs Maritime Services Private Limited will own, operate, hire and charter various types and sizes of ships including Liquid Petroleum Gas (LPG) shipping vessels and other types of vessels that can carry various energy products.

A memorandum of understanding has been signed to purchase the LGP shipping vessel ‘Gas Puffer’ and rename it as ‘Gas Challenger’ while registering it under the Sri Lanka flag.

The initial investment on the purchase of this vessel is around USD 6.9 million.