20 March 2015
BW LPG announces delivery of Vermilion First
(Singapore, 20 March 2015)
BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG”) is pleased to announce that it has today taken delivery of the Very Large Gas Carrier (‘VLGC’) Vermilion First to be renamed, BW Sakura.
BW LPG had exercised the purchase option on the vessel on 2 March 2015. Nicholas Gleeson, CEO of BW LPG commenting on the purchase said, "Addition to our fleet of owned vessels through exercise of options on chartered-in vessels is one avenue to growth that is particularly valuable when tonnage availability is tight. We have a number of opportunities to add to the fleet this way at attractive prices in the coming years."
Vermilion First has been on a time charter with BW LPG since the acquisition of the charter from AP Moller-Maersk in 2013. Built in 2010, with a capacity of approximately 77,324 cubic metres, the vessel will fly the Isle of Man flag and be classed by DNV. The vessel will continue to be available for spot and CoA cover.
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.