BW LPG Agrees to Sell Its Final Large Gas Carrier Duo

Singapore-based owner of gas carriers BW LPG has reached an agreement to sell its two final large gas carriers (LGCs).

Under a Memorandum of Agreement (MOA) with an undisclosed party, the company would sell its 2003-built LPG tankers BW Nantes and BW Nice.

The units, featuring a carrying capacity of 59,400 cbm each, will be delivered to their new owners within the first quarter of 2020.

BW LPG said that the sale is expected to generate around USD 31 million in liquidity and an
expected net book gain of USD 9 million.

The remaining owned and operating fleet counts 47 VLGCs, including 2 newbuildings which are scheduled for delivery in the fourth quarter of 2019 and the first quarter of 2020.

The average age of the fleet, excluding the India JV and the storage vessel, is 7.5 years.