10 February 2020
BW LPG declares option for additional four LPG dual-fuel engines, bringing our investment to eight
(Singapore, 10 February 2020)
BW LPG announced today that it has exercised an option for the delivery of four additional LPG dual-fuel engines. With this, BW LPG has committed to retrofit eight vessels with pioneering propulsion technology.
This announcement follows a press release dated 30 August 2018, where BW LPG announced a world’s first initiative to retrofit four LPG dual-fuel engines in its fleet. BW LPG, together with Class (DNV GL), Wärtsilä Gas Solutions and MAN ES, has since subjected the prototype to rigorous tests successfully, with performance exceeding expectations. When retrofitting is complete, BW LPG will reap benefits across many fronts such as fuel cost and voyage efficiencies. Most importantly, this represents a significant step forward in our efforts at reducing air emissions.
The retrofitting of the first four LPG dual-fuel engines into four Very Large Gas Carriers (VLGCs) is taking place as planned this year.
Says Anders Onarheim, BW LPG CEO, “As the world’s largest owner and operator of VLGCs, BW LPG leverages on our scale and deep expertise in maritime shipping to invest in R&D and implement pioneering technology onboard that will push our industry towards decarbonization - technology that can be implemented on at least 50 percent of current global VLGC fleet without the need for dedicated newbuilding orders. This is our commitment to sustainable development, which we pursue while keeping our focus on safe and reliable operations, so that we can continue to provide industry-leading customer service and generate better returns for our shareholders.”
For further information on the benefits of LPG as a marine fuel, visit https://www.bwlpg.com/our-fleet/lpg-propulsion.
For further information, please contact:
Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Head of Investor Relations
BW LPG Limited
Tel: +65 6705 5519
About BW LPG
BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) with a total carrying capacity of over 4 million cbm. With four decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at www.bwlpg.com.
BW LPG is associated with BW Group, one of the world's leading shipping groups. BW's controlled fleet of over 360 ships includes product tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, dry cargo carriers and floating production storage and offloading (FPSO) units.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.