Shipowners Uljanik Plovidba and ETCA Caspian have formed a new LNG and LPG shipmanagement joint venture.

The Croatian and Cypriot companies each own 50% of Uljanik Plovidba LNG, Uljanik said.

The venture will focus on gas transport and storage.

Uljanik, which has bulkers and tankers, and ETCA, an oil products and gas specialist, want to diversify their activities.

The new company has been registered with the commercial court in Pazin, Croatia, Zagreb-listed Uljanik said in a filing.

Uljanik