BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code “BWLPG.OL”) announces today the sale of Very Large Gas Carrier (VLGC) BW Trader.
BW Trader was built in 2006 and has a carrying capacity of 78,631 CBM. The sale and delivery of the vessel to its new owner for further trading is expected to be completed by March 2022 and when completed, is expected to generate approximately US$ 20 million in liquidity and a net book gain of approximately US$ 2 million.
Says Anders Onarheim, CEO of BW LPG, “This sale is in line with our strategy of seeking to optimise our assets through the cycles and gives further strength to our balance sheet and liquidity position.”
With this sale, BW LPG owns and operates a fleet of 39 modern VLGCs. The fleet includes 12 VLGCs that have been retrofitted with cleaner-burning LPG dual-fuel propulsion technology, and 19 that have been equipped with SMARTShip digitalisation technology.
For further information, please contact:
Elaine Ong, CPA, CFA
Chief Financial Officer
Tel: +65 6705 5506
E-mail: [email protected]
Iver Baatvik
Head of Investor Relations and Corporate Development
Tel: +65 6705 5519
E-mail: [email protected]
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.