Martin Ackermann News

BW LPG Limited, owner and operator of LPG vessels,  said that Martin Ackermann has decided to step down as CEO at the end of this year for family reasons, after five years leading the company from Singapore.Anders Onarheim, a non-executive director of BW LPG since 2013 and former Managing Director of Carnegie, will act as interim CEO of BW LPG.Martin Ackermann, CEO of BW LPG, said: “It has been a privilege to lead BW LPG through some challenging years and to see it continue as a strong platform for the future”.Andreas Sohmen-Pao, BW LPG Chairman, said: “On behalf of the Board of Directors, I would like to thank Martin for his contributions over the past five years…

Singapore-based owner of gas carriers BW LPG has established a product services division in an effort to support its core shipping business.The  Product Services division is part of BW LPG’s ambition to propose a low-risk and fully-integrated product delivery service to customers.The owner and operator of LPG vessels will purchase LPG and offer it delivered on the basis of cost, insurance and freight, directly to the end user.Through this new division, BW LPG aims to maximise utilisation of its vessels by providing full LPG delivery service, including product, while remaining focused primarily on shipping services.Martin Ackermann, BW LPG CEO said:  “The new product services division reflects BW LPG’s ambitions to provide existing and new customers with reliable…

MAN Energy Solutions has announced the first retrofit orders for its new MAN B&W ME-LGIP LGP-powered engine.The contract with Oslo-listed BW LPG involves the world’s first retrofitting of four MAN B&W 6G60ME-C9.2 HFO-burning engines to 6G60ME-C9.5-LGIP LPG-propelled dual-fuel engines, plus options for further retrofits in the future. BW LPG expects the first retrofitting to take place in conjunction with scheduled drydockings, starting 2020.The deal was signed in advance of the official launch of the MAN B&W ME-LGIP engine in Copenhagen on Monday, September 3rd, 2018 with the contract exchanged publicly during the event.In BW LPG’s own press release…

BW LPG Limited and Global United Shipping India Private Limited, have agreed to establish a joint venture in India in which the parties will own 50% each. The purpose of the new joint venture, named BW Global United LPG India Private Limited, is to own and operate Gas Carriers for the transportation of LPG within Indian waters. As part of the establishment, BW LPG will sell two of its vessels, BW Boss and BW Energy, to the joint venture company and to that end BW LPG has entered into binding vessel sales contracts. “The joint venture will allow BW LPG to create a strong base in India which is one of the world's largest LPG import markets. LPG growth in India is driven primarily by increased retail demand and strong support for LPG consumption from the government of India.

BW LPG Limited has signed a Debt Facility Agreement of USD290 million for the re-financing of six 2016 built ex-Aurora ships. The re-financing has been raised from The Export-Import Bank of Korea (KEXIM) as ECA (Export Credit Agency) lender, with ABN AMRO Bank N.V., Singapore branch and Oversea-Chinese Banking Corporation Limited as Mandated Lead Arrangers. ABN AMRO Bank N.V., Singapore branch also acted as coordinator and facility agent. The all-in cost for this financing is LIBOR plus 1.88%, with a 16-year amortization profile. Martin added: "The ex-Aurora fleet is now fully re-financed at similar competitive terms and structure as the rest of the BW LPG fleet, which further strengthens our competitive edge in a challenging market.

Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk. He brings a wealth of leadership experience in both commercial and technical management, having amongst other positions headed Maersk Tankers fleet management for 9 years. Before that he held both operational and commercial leadership positions in Maersk Tankers, Maersk Contractors and Maersk Drilling. The Chairman of Jaccar Holdings Mr. Jacques de Chateauvieux says "I wish to thank Martin Ackermann for his leadership of Evergas through periods of financial and operational challenges as well as a period of rapid growth. He has led the company with success through this sea of changes. Martin has decided to move on and the timing is right for Evergas to have a change in leadership.

Evergas has reached an agreement with INEOS to expand its new-building series of ethane/multigas vessels from six to eight units. In January 2013, Evergas announced for the first time that it had secured shipping agreements of up to 15 years with INEOS for the worlds’ first transatlantic shipments of ethane with commencement in 2015. The fleet of eight vessels will bring US ethane from shale gas to INEOS’ manufacturing sites in Grangemouth, Scotland and Rafnes, Norway. This advantageously priced feedstock will have a highly positive impact for the company’s European operations that so far have relied on declining and expensive volumes from the North Sea. Furthermore it will support the company’s longevity of being a leading and cost-efficient petrochemical producer.

Three new 27,000 cbm LNG/Multigas Carriers for Evergas, the Denmark based transporter of petrochemical gases and natural gas liquids, are to be built featuring the integrated Wärtsilä solution, comprising the main propulsion equipment, the gas fuel supply system, and the cargo handling system. This order is an extension of the one placed in 2013 for a series of three similar vessels. The ships are being built by the Sinopacific Offshore & Engineering (SOE) shipyard in China, and feature an advanced design that offers very high efficiency and unparalleled flexibility.

The integrated Wärtsilä solution, comprising the main propulsion equipment, the gas fuel supply system, and the cargo handling system, has been ordered for 3 new state-of-the-art 27,000 cbm LNG/Multigas Carriers for Evergas, the Denmark based transporter of petrochemical gases and natural gas liquids. Wärtsilä explain that this order is an extension of the one placed in 2013 for a series of three similar vessels. The ships are being built by the Sinopacific Offshore & Engineering (SOE) shipyard in China, and feature an advanced design that offers very high efficiency and unparalleled flexibility. For each vessel Wärtsilä will supply two Wärtsilä 50DF dual-fuel main engines, two Wärtsilä 20DF auxiliary gensets, the gearbox, and the controllable pitch propeller.