BW LPG Limited has announced that the acquisition of all 12 VLGCs from Avance Gas was successfully completed with the delivery of the final vessel BW Avior.
With reference to the stock exchange announcement on 15 August 2024 for the acquisition of 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas Holdings, BW LPG Limited has taken delivery of vessel BW Avior on 31 December 2024. All 12 VLGCs are now delivered and the transaction has been successfully completed. Furthermore, with the completion of the transaction, BW LPG now owns and operates a total of 53 VLGCs, of which 22 are LPG dual-fuel.
We have issued 15% more shares to expand our owned fleet by 40% and through our enlarged fleet we are enhancing our commercial scale and operational leverage.
…said Kristian Sørensen, CEO, BW LPG.
According to the BW LPG statement, with the expanded fleet, BW LPG will maintain its chartering strategy, targeting a coverage of approximately 35-40% of its fleet capacity using time charters and Freight Forward Agreements.
