BW LPG sells VLGC to Bashundhara

Oslo-listed BW LPG has sold its very large gas carrier (VLGC) BW Empress to Bangladesh-based Bashundhara Oil and Gas for approximately $40m.

The 2005-built vessel, renamed to Bashundhara LPG Warrior, was delivered on April 15 and should bring net book gain of around $10m to BW LPG.

“BW Empress was sold for an attractive price in a volatile market. This sale is aligned with our asset management strategy, as we maximise the value of our current assets on water while considering the best way forward in our journey towards a zero-carbon future,” said Anders Onarheim, CEO of BW LPG.

With this sale, BW LPG owns and operates a fleet of 45 modern VLGCs, including four of the world’s first VLGCs to be retrofitted with LPG dual-fuel propulsion. The company has committed a further 11 VLGCs for retrofitting with this technology, representing an overall investment of over $130m.