VLGC owner and operator BW LPG has signed a memorandum of agreement to sell two vessels to the BW LPG India joint venture.
The two vessels in question, the BW Pampero and BW Chinook, were acquired in the recent Avance Gas transaction and will be sold for approximately $75m per vessel to ensure further expansion and fleet renewal in the Indian market. The delivery of the two 2015-built vessels is expected in the third quarter of 2025.
BW LPG India currently owns and operates India’s largest fleet of very large gas carriers, comprising seven ships, after the recently announced sale of the BW Cedar. Its fleet is also the youngest and accounts for import of approximately 20% of LPG into India.
The company was established as a joint venture in 2017 between BW LPG Limited and Global United Shipping and is headquartered in Chennai. In 2021, Maas Capital Shipping acquired a minority stake of 42% in BW LPG India, with BW LPG currently holding 52% of the shares.
“We see tremendous potential in the country and are proud to participate in the continued growth of the Indian LPG market,” said Kristian Sørensen, CEO of BW LPG.
Energy News Beat