BW LPG Limited Announces Sale of BW Birch

SINGAPORE--(BUSINESS WIRE)--BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code: “BWLP”) is pleased to announce that its 52%-owned subsidiary, BW LPG India, has entered into an agreement to sell the 2007-built BW Birch for continued trading.

On a 100% basis, the sale of BW Birch is expected to generate a net book gain of approximately US$37 million and net cash proceeds of around US$64 million. The vessel is currently trading under a time charter agreement and is scheduled for delivery to the buyer by mid-November at the latest.

Kristian Sørensen, CEO of BW LPG, says “This transaction, at a value equivalent to a newbuilding price of approximately US$248 million and in line with the recently announced sale of BW Elm, reflects our continued execution of our fleet renewal programme and our ability to capitalize on strong second-hand market values.”

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of about 50 Very Large Gas Carriers (VLGCs), including over 20 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide. Delivering energy for a better world – more information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, a leading global energy and maritime company involved in shipping, deepwater oil & gas production, renewable energy and digital infrastructure. BW controls a fleet of over 400 vessels transporting oil, gas and dry commodities. In the infrastructure space, the group operates in wind, batteries, water, subsea cable networks and data centres. www.bw-group.com