(Singapore, 2 March 2015)
BW LPG Limited ("BW LPG", the "Company", OSE ticker
code: "BWLPG") exercises purchase option over Very
Large Gas Carrier ('VLGC') Vermilion First.
.
The VLGC Vermilion First has been on a time charter
with BW LPG since the acquisition of the charter
from AP Moller-Maersk in 2013. The Vermilion First
was built in 2010 at Mitsubishi Heavy Industries,
Nagasaki Shipyard, and has a capacity of
approximately 77,324 cubic metres.
BW LPG has exercised a purchase option which became
available under the charter in Q1 2015. The
transaction will be settled from free cash and the
revolving credit facility. Aggregate consideration
for the transaction is USD 73 million.
Delivery is anticipated within this month (March
2015). The vessel will continue to be available for
spot and CoA cover.
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 37 gas carriers with a total carrying
capacity of close to 3 million cbm and a further
504,000 cbm of capacity on order in Korea. With 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.