BW LPG Enters agreement to Sell Two Large Gas Carriers

0
264

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. 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.

Sea News, November 5