The raised offer comes after Dorian LPG's Board declined BW LPG's initial unsolicited offer on May 29, saying the offer undervalued Dorian's fleet of "substantially younger, more fuel-efficient ships as well as Dorian's superior commercial performance." OSLO, July 9 (Reuters) - Norway's BW LPG, the world's largest liquid petroleum gas shipper, raised its offer to buy rival … [Read more...]
BW LPG Makes $1.1 Billion Offer to Buy Dorian LPG
OSLO, May 29 (Reuters) - The world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG, is offering to buy competitor Dorian LPG in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market, it said in a statement on Tuesday. Dorian shareholders will receive 2.05 BW LPG shares for each Dorian share, equal to $7.86 per share, a premium of 13 … [Read more...]
BW LPG Joins Battle for Rival Aurora LPG
OSLO, Dec 9 (Reuters) - BW LPG, the world's biggest liquid petroleum gas (LPG) shipper, has bought 12.1 percent of smaller rival Aurora LPG, potentially disrupting a hostile bid from Avance Gas Holding. Owners of Very Large Gas Carriers (VLGCs) are reporting bumper profits as the global demand for liquefied petroleum gas, commonly used as a fuel for cooking, heating and in … [Read more...]
BW LPG Orders New Gas Carriers
BW LPG Limited announced today new shipbuilding contracts have been signed with Daewoo Shipbuilding and Marine Engineering (DSME) for four Very Large Gas Carriers (VLGCs). These newbuild slots had already been booked at DSME, however they became available again and BW LPD took the opportunity, the company says. Deliveries are planned for Q3 and Q4 2016. Speaking about … [Read more...]
BW LPG Gains Financing for 7-Ship Newbuild Program
BW LPG Ltd announced today that its seven-ship new construction program of very large gas carriers (VLGCs) has gained USD $400 million in debt financing. The financing was gained via the Export-Import Bank of Korea (KEXIM) as Export Credit Agency (ECA) lender, with DNB Asia Limited (DNB) and Skandinaviska Enskilda Banken AB (SEB) as Mandated Lead Arrangers and commercial … [Read more...]