Apollo snaps up LNG shipping platform Hav Energy

US-listed private equity group Apollo has struck a deal to acquire LNG shipping investment business Hav Energy from Norway’s HitecVision for an undisclosed sum.

Established by HitecVision in 2022 the Randi Vestbø-led outfit has co-invested in 10 newbuild LNG carriers at Hyundai Heavy Industries in South Korea, together with Knutsen LNG.

Apollo said it sees Hav Energy’s future growth trajectory supported by global LNG import projections driven by growth in Asia and Europe and expectations for robust new liquification capacity coupled with limited newbuild vessel supply.

“Hav Energy has quickly scaled into a top platform facilitating the global transport of LNG, which we view as a bridge fuel capable of reducing emissions for rapidly growing power demand,” commented Joseph Romeo, partner at Apollo.

Hav Energy and Knutsen have already seen two ships delivered, with the remaining eight due for delivery this year and in 2026 – all fixed on long-term contracts.

“This transaction represents a critical juncture for Hav Energy as we continue to build a next-generation fleet of LNG infrastructure carriers and pursue attractive growth opportunities to expand our capabilities alongside our new partners at Apollo,” added Hav’s chief executive, Vestbø.