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BW LPG Limited announces the sale of two Very Large Gas Carriers (VLGCs), BW Sakura and BW Niigata, and that the Board of Directors of BW LPG has also resolved to initiate a share buy-back programme. BW Sakura and BW Niigata were built in 2010 in Japan and have a carrying capacity of 78,900 CBM ...
Singapore owner offloads two 2010-built ships to third party, while dropping down quartet to Indian subsidiary
The LPG market takes abrupt turns, and the average spot rate for BW LPG is lower in 2021 than in 2020. But chief executive Anders Onarheim expects that 2022 will bring slightly better rates than what he has seen on average this year, he tells ShippingWatch.
BW LPG says that retrofitting 15 vessels to use LPG as a fuel will save the company 1m tons of CO2 emissions.
BW Empress was built in 2005 and has a carrying capacity of 77,330 CBM. "The sale has generated approximately US$ 40 million in liquidity and an expected net book gain of approximately US$ 10 million. The sale and delivery of the vessel to its new owner for further trading was completed on 15 April 2021," the Oslo-listed company said Friday. Anders Onarheim, CEO of BW LPG, said: "BW Empress was sold for an attractive price in a volatile market. This sale is aligned with our asset management strategy, as we maximize the value of our current assets on water while considering the best way forw...