BW LPG Moves to Gas Trading Too
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, integrated LPG delivery services. Whilst LPG shipping remains our core business, we aim to diversify our business offerings, innovate to capture market opportunities, and maximize value for both customers and shareholders”.
BW LPG currently owns and operates 49 Very Large Gas Carriers (VLGCs) and Large Gas Carriers (LGCs) including two VLGCs newbuildings with a total carrying capacity of 4 million cbm.