BW LPG sheds remaining two large gas carriers

BW LPG, the world’s largest liquid petroleum gas shipping company, has signed a memorandum of agreement to sell its two remaining large gas carriers (LGCs).

BW said on Tuesday that it would sell its 2003-built LPG tankers BW Nantes and BW Nice to an undisclosed party.

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

BW LPG added that the sale was expected to generate around $31 million in liquidity and an expected net book gain of $9 million.

The company still owns and operates a fleet of 47 VLGCs, including two newbuildings 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.