(Singapore, 27 April 2015)
BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG”) is pleased to announce that it has today taken delivery of BW Leo, the fourth Very Large Gas Carrier (VLGC) in its newbuilding programme of eight VLGCs from HHI. In addition, BW LPG has recently acquired a four VLGC newbuilding programme from DSME.
The BW Leo is financed by a combination of free cash and the USD 400 million loan facility from KEXIM, DNB and SEB, as lending banks. The BW Leo joins the fleet held available to serve voyage charter opportunities and meet CoA commitments.
BW LPG’s CFO, Vijay Kamath commented on the delivery, “Our newbuilding programme continues to deliver high quality vessels. This, combined with our market leading financing, delivers the type of value accretive growth to our investors that we continually strive for.”
Including the BW Leo, the company now owns and operates a fleet of 38 vessels, comprising 24 owned VLGCs, nine 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.
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 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.