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BW LPG enters agreement to sell two large gas carriers
BW LPG Limited, has entered into a Memorandum of Agreement (MOA) to sell the remaining two Large Gas Carriers (LGCs) in the fleet.
BW Nantes and BW Nice, both built in 2003 and with a carrying capacity of 59,400 cbm each, will be delivered within Q1 2020.
The sale is expected to generate approximately US$31 million in liquidity and an expected net book gain of US$9 million.
The remaining owned and operating fleet is 47 VLGCs, including 2 newbuildings which are scheduled to be delivered in Q4 2019 and Q1 2020. The average age of the fleet, excluding the India JV and the storage vessel, is 7.5 years.