(Singapore, 28 April 2015)
BW LPG Limited ("BW LPG", the "Company", OSE ticker
code: "BWLPG) exercises purchase option over Very
Large Gas Carrier ('VLGC') Berge Summit.
The VLGC Berge Summit has been on a bareboat
charter with BW LPG since 2004. The Berge Summit
was built in 1990 at Mitsubishi Heavy Industries,
Nagasaki Shipyard, and has a capacity of
approximately 78,489 cubic metres.
BW LPG has exercised a purchase option which became
available under the charter. The transaction will
be settled from free cash. Aggregate consideration
for the transaction is USD 8 million. Including
unamortised lease rentals and dry-docking expenses
on this vessel, the book value of the vessel when
delivered into the fleet in May 2015, is expected
to be approximately USD 23 million. The vessel will
continue to be available for employment within our
contract portfolio.
For further information, please contact:
Vijay Kamath
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Email: vijay.kamath@bwlpg.com
ABOUT BW LPG
BW LPG is the world's largest very large gas
carrier (VLGC) owner and operator based on number
of VLGCs and by LPG carrying capacity. BW LPG owns
and operates 38 gas carriers with a total carrying
capacity of close to 3 million cbm and a further
672,000 cbm of capacity on order in Korea. With
more than 35 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.