BW LPG Limited, the world’s largest owner and operator of very large gas carriers (VLGCs) will be listed on the Oslo Bors on Thursday, 21 November with the ticker BWLPG. The company’s IPO is likely to come in between NOK45 and NOK50 ($8.14) per share with gross proceeds from the sale of new shares to be set at USD $280 million.
BW LPG owns and operates 36 gas carriers with a total carrying capacity of about 3 million cbm and a further 504,000 cbm of capacity on order in Korea.
As announced yesterday, John Fredricksen’s Frontline 2012, along with Stolt-Nielsen Gas and Sungas Holding are also pushing hard into the pure play LPG sector with their joint venture, Avance Gas Holding Ltd. which currently has six vessels on the water and eight ships under construction. They intend to list their company in a future IPO as well.
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The US said Russia and Ukraine have agreed to a ceasefire in the Black Sea and to work out mechanisms for implementing their ban on strikes against energy infrastructure.
CK Hutchison Holdings Ltd. warned of a deteriorating global business environment due to geopolitical and trade tensions, as the Hong Kong conglomerate reported weaker-than-expected profit while a ports sale plan faces uncertainty after infuriating Beijing.
The U.S. hit targets across Yemen in airstrikes overnight, including Saada province, which Yemeni sources say is a long-time hideout for Iran-aligned Houthi leaders, and the Red Sea port city of Hodeidah.
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