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...]

Drewry: Vessel Oversupply to Persist in VLGC Shipping Sector

(Drewry) - High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers (VLGC) in 2017 putting additional pressure on freight rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. VLGC rates remain under pressure on account of ample vessel supply and weak arbitrage … [Read more...]

Astomos Energy Orders Fourth LPG Carrier from Mitsubishi

Tokyo-based Astomos Energy Corp has placed an order today with Mitsubishi Heavy Industries (MHI) for a very large liquefied petroleum gas (LPG) carrier.  This marks their their fourth such order with MHI since 2013, a company that also happens to be a 49 percent shareholder in Astomos Energy. Astomos Energy presently operates a fleet of 21 large-scale LPG carriers, six of … [Read more...]

Eastern Pacific Shipping Orders LPG Carriers as Positive Sentiment Abounds

Hyundai Mipo Dockyard's backlog of LPG carrier newbuilds has grown to 21 today as two more were added to the list by Eastern Pacific Shipping.  The Singapore-based firm placed an order today for a pair of 38,000 m3 LPG carriers, including two additional options for a total consideration of USD $102 million. The vessels will be delivered in March 2017 according to a statement by … [Read more...]

Yara Orders Specialized Ships to Transport Liquid Ammonia

Yara International ASA, one of the world's largest specialty chemical and fertilizer companies, placed an order today with South Korean shipbuilder Hyundai Mipo Dockyard for the construction and delivery of three, 20,600 cubic meter, semi-refrigerated Liquefied Petroleum Gas (LPG) carriers.  These three ships are targeted to transport cargoes of liquefied ammonia and come at an … [Read more...]