BW LPG agrees to sell two Large Gas Carriers
OSLO: Singapore based BW LPG Limited has entered into a Memorandum of Agreement (MOA) to sell the remaining two Large Gas Carriers (LGCs) in the fleet. BW Nantes and BW Nice, both built in 2003 and with a carrying capacity of 59,400 cbm each, will be delivered within Q1 2020, a notice issued to Oslo Stock Exchange said. The sale is expected to generate approximately US$31 million in liquidity and an expected net book gain of US$9 million. The remaining owned and operating fleet is 47 VLGCs, including 2 newbuildings which are scheduled to be delivered in Q4 2019 and Q1 2020. The average age of the fleet, excluding the India JV and the storage vessel, is 7.5 years. BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) with a total carrying capacity of over 4 million cbm. With four decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. BW LPG is associated with BW Group, one of the world's leading shipping groups. BW's controlled fleet of over 400 ships includes oil tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, chemical tankers, dry cargo carriers and floating production storage and offloading (FPSO) units.