BW LPG expands its product services with latest acquistion
Singapore-based owner and operator of LPG vessels BW LPG has completed the acquisition of Vilma Oil’s LPG trading operations to expand its product services division.
The company entered into an agreement with Madrid-based Vilma Oil to acquire its LPG trading operations on 1 August 2022.
The product services division was established in February 2019 to offer customers a low-risk and fully integrated product delivery service, and support the company’s core shipping business.
This acquisition is expected to allow the company to scale its product services offering to provide better service to customers while boosting fleet utilisation.
The expanded product services division will continue to operate within disciplined capital requirements and defined risk thresholds.
“This acquisition accelerates our ambition to expand our product services division”, said Anders Onarheim, CEO of BW LPG. “We welcome the team to BW LPG and look forward to working together on an expanded commercial platform, improving our ability to service our clients and adding value to our shareholders.”
In recent company-related news, the Singapore-based operator completed its fifteenth dual-fuel very large gas carrier (VLGC) retrofit project, converting the main engine of its LPG carrier BW Malacca to dual-fuel running.
The 84,000 cbm ship is now able to operate on fuel oil and LPG.
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