BW LPG Limited’s Indian subsidiary, BW LPG India, has agreed to sell the BW Lord, a 2008-built very large gas carrier (VLGC). The sale is projected to yield a net book gain of approximately US$25 million and net cash proceeds of around US$61 million on a 100% basis. The buyer will take possession before the end of 2025.
This transaction aligns with BW LPG‘s ongoing efforts to modernize its fleet in India. The company recently acquired two newer VLGCs, the BW Chinook and BW Pampero, both built in 2015.
BW LPG India now operates eight VLGCs, representing about 20% of India’s liquefied petroleum gas (LPG) imports. This fleet modernization is a key element of BW LPG‘s broader strategic plan.
Kristian Sørensen, BW LPG’s CEO, explained the sale as a strategic move to enhance the company’s fleet while capitalizing on favorable market conditions for second-hand vessels. He highlighted the company’s commercial agility in achieving strong returns.
BW LPG is a major player in the global LPG shipping industry. The company owns and operates more than 50 VLGCs, boasting a total carrying capacity exceeding 4 million cubic meters. Its operations span five decades, incorporating in-house LPG trading and investments in onshore infrastructure. BW LPG is part of the BW Group, a large maritime conglomerate with interests in shipping, floating infrastructure, energy production, and sustainable technologies. The BW Group’s portfolio includes a substantial number of LNG and LPG carriers, making it a global leader in gas shipping. The group also has a growing presence in renewable energy sectors, including solar, wind, and battery technologies.
The sale of the BW Lord and the subsequent fleet upgrades showcase BW LPG‘s commitment to optimizing its assets and maintaining its position as a leading global LPG carrier. The company anticipates continued growth and profitability as it modernizes its fleet and leverages its extensive experience in the LPG market.
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