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...]
BW Adds Options to Build More Large Gas Carriers
BW LPG confirmed today that they have negotiated a plan with Hyundai Heavy Industries to move the construction timeline 10 months to the left on their pair of two Very Large Gas Carrier (VLGC) newbuilds. Two two vessels will now be delivered in August and October 2015, respectively. In connection with the advancement, BW LPG notes that they have secured two additional newbuild … [Read more...]
BW LPG to be Listed on the Oslo Bors
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 … [Read more...]