Copenhagen, Denmark – 10 April 2025 – European Maritime Finance (EMF), in partnership with Atlas Maritime, is excited to announce the successful sale of Electric Star, a dual-fuel LNG Pure Car Truck Carrier (PCTC) capable of carrying 7,000 cars.
The Electric Star represents a significant advancement in maritime transport, uniquely designed to utilize Liquid Natural Gas (LNG) as a cleaner fuel alternative compared to heavy fuel oil. This sale marks another successful project for EMF and reflects the continued growth and resilience of the automotive transport sector.
“We are proud to deliver another successful project to our investors,” said Martin Haugaard, Founder and Chief Executive Officer of EMF Schweiz AG and Chairman of the Investment Committee. “The vessel is sold to Noatum Maritime, the shipping arm of Abu Dhabi-based AD Ports Group. We would like to thank our partners at Atlas Maritime for their exceptional performance and consistency in delivering strong results resulting in optimised returns for our investors and EMF.”
Both Atlas Maritime and European Maritime Finance have established a proven track record of delivering positive returns to investors over the past decade, showcasing their commitment to strategic investment and market foresight. “Electric Star was ordered during the low point of the PCTC market amid Covid-19, which was a contrarian approach,” stated Leon Patitsas, CEO of Atlas Maritime. “We analysed the fundamentals, fleet demographics, and anticipated that demand for cars would rebound after Covid. Our thesis proved correct, as we witnessed a significant increase in the export of electric cars from China–rising from 1 million to nearly 6 million cars per annum – a phenomenal growth. Consequently, the demand for Car Carriers increased, driving up asset values. We have a disciplined investment approach together with EMF and are committed to realizing profits when there is a strong return for all our shareholders.”