Singapore-based owner and operator of gas carriers BW LPG Limited has taken delivery of BW Leo, the fourth Very Large Gas Carrier (VLGC) in its newbuild programme of eight VLGCs from South Korea’s Hyundai Heavy Industries.
The BW Leo is financed by a combination of free cash and the USD 400 million loan facility from KEXIM, DNB and SEB, as lending banks.
The BW Leo joins the fleet held available to serve voyage charter opportunities and meet CoA commitments.
Including the BW Leo, the company now owns and operates a fleet of 38 vessels, comprising 24 owned VLGCs, nine chartered-in VLGCs and five owned LGCs.
In addition, BW LPG has recently ordered four VLGC newbuilds from another South Korean shipbuilder – Daewoo Shipbuilding and Marine Engineering (DSME).