(Singapore, 27 April 2016)
BW LPG Limited ("BW LPG", the "Company", OSE ticker code:
"BWLPG") has concluded a sale and leaseback agreement with
Nissen Kaiun Co. Ltd. for its last VLGC newbuilding under
construction at Daewoo Shipbuilding and Marine Engineering.
Concurrently BW LPG Limited has also agreed to timecharter-
in two VLGC newbuildings to be constructed at Mitsubishi
Heavy Industries from Nissen Kaiun Co. Ltd, with deliveries
expected in 2020. All three timecharter-in agreements
include purchase options.
Commenting on the transaction, BW LPG CEO, Martin Ackermann
said, "The benefits of the transactions are threefold: it
allows us to renew our chartered-in fleet, enables us to
offer our customers more flexible solutions and it further
strengthens our relationship with Japan, which is one of the
world's most important LPG demand centres."
For further information, please contact:
Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Email: elaine.ong@bwlpg.com
John Papaioannou, CFA
Senior Manager, Strategy & Investor Relations
BW LPG Limited
Tel: +65 6705 5514
Email: john.papaioannou@bwlpg.com
About BW LPG
BW LPG is the world's leading and largest very large gas
carrier (VLGC) owner and operator based on number of VLGCs
and by LPG carrying capacity. BW LPG currently owns and
operates 40 gas carriers with a total carrying capacity of
over 3.1 million cbm. In addition, BW LPG has 5 VLGC
newbuildings under construction in Korea. With more than 37
years of operating experience in LPG shipping and
experienced seafarers and staff, BW LPG offers a flexible
and reliable service to customers. BW LPG is associated with
BW Group, one of the world's leading shipping groups. BW
Group is involved in oil and gas transportation, floating
gas infrastructure, environmental technologies and deep-
water production.
This information is subject to disclosure requirements
pursuant to Section 5-12 of the Norwegian Securities Trading
Act.