(Singapore, 18 March 2015)
BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG”) is pleased to announce that it has today taken delivery of BW Gemini, the third Very Large Gas Carrier (VLGC) in its newbuilding program of eight VLGCs.
The BW Gemini is part financed by the USD 400 million loan facility agreement signed in February with KEXIM, DNB and SEB, as lending banks.
BW LPG’s CCO, Andrew Hoare commented on the delivery, “BW Gemini, the third newbuilding in this series of VLGCs is delivered to us from HHI on schedule at a time of buoyant market conditions. At 84,000 cubic meters, the vessel is optimised for loading out of the US terminals and will enable us to continue to enhance our scale and operating capability to our strong customer base."
Including the BW Gemini, the company now owns and operates a fleet of 38 vessels on the water, comprising 22 owned VLGCs, 11 chartered-in VLGCs and five owned LGCs. BW LPG is the world’s largest Very Large Gas Carrier (VLGC) owner and operator, by number of VLGCs and by LPG carrying capacity. BW LPG has 5 further newbuildings delivering through 2015 and 2016.
For further information, please contact:
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
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 420,000 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.