BW Names Two Tankers

BW Group organised a ship naming ceremony for the first two of ten medium range (MR) product tankers built by the SPP Shipyard in Korea.

BW Egret and BW Falcon will join eight other MRs currently on water, and will trade in the spot market.

On April 30, 2014, BW Group entered into an agreement to acquire the 10 newbuildings from Metrostar Management for a reported price of USD 38 million per vessel.

Greek owner Metrostar sold the medium-range (MR) product-tanker newbuildings to BW Group after Diamond S Shipping backed out of the deal on the account of a failed initial public offering (IPO).

World Maritime News Staff