BW LPG Agrees to Sell 2006-built VLGC BW Trader

BW LPG said Thursday it had agreed to sell the 2006-built Very Large Gas Carrier (VLGC) BW Trader to an undisclosed buyer. The VLGC has a carrying capacity of 78,631 CBM. 

"The sale and delivery of the vessel to its new owner for further trading is expected to be completed by March 2022 and when completed, is expected to generate approximately $20 million in liquidity and a netbook gain of approximately  $2 million," Oslo-listed BW LPG said.

 Anders Onarheim, CEO of BW LPG said: "This sale is in line with our strategy of seeking to optimize our assets through the cycles and gives further strength to our balance sheet and liquidity position.”

With this sale, BW LPG owns and operates a fleet of 39 modern VLGCs. The fleet includes 12 VLGCs that have been retrofitted with cleaner-burning LPG dual-fuel propulsion technology and 19 that have been equipped with SMARTShip digitalization technology.