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BW LPG Limited announced that its 52%-owned subsidiary, BW LPG India, entered an agreement to sell the 2007-built VLGC…
BWLPBW LPG Ltd
BW LPG Limited announced that its 52%-owned subsidiary, BW LPG India, entered an agreement to sell the 2007-built VLGC BW Birch for continued trading. The transaction is expected to generate a net book gain of approximately US$37 million and net cash proceeds of around US$64 million on a 100% basis. Delivery to the buyer is scheduled by mid-November at the latest, with the sale value equivalent to a newbuilding price of approximately US$248 million. This transaction reflects the company's continued execution of its fleet renewal programme and capitalization on strong second-hand market values, following the recent sale of BW Elm. BW LPG operates as the world’s leading owner and operator of Very Large Gas Carriers (VLGCs) for liquefied petroleum gas transportation.