BW LPG Welcomes Third VLGC Newbuild to the Fleet

BW LPG Limited has taken delivery of BW Gemini, the third Very Large Gas Carrier (VLGC) in its newbuilding program of eight VLGCs.

The BW Gemini is partly financed by the USD 400 million loan facility agreement signed in February with KEXIM, DNB and SEB, as lending banks.

“BW Gemini, the third newbuilding in this series of VLGCs is delivered to us from HHI on schedule at a time of buoyant market conditions. At 84,000 cubic meters, the vessel is optimised for loading out of the US terminals and will enable us to continue to enhance our scale and operating capability to our strong customer base,BW LPG’s CCO, Andrew Hoare commented on the delivery.

Including the BW Gemini, the company now owns and operates a fleet of 38 vessels on the water, comprising 22 owned VLGCs, 11 chartered-in VLGCs and five owned LGCs.

BW LPG has 5 further newbuildings delivering through 2015 and 2016.