Singapore’s BW LPG has established a joint venture in India with local company Global United Shipping, itself a joint venture between Japan’s Nissen Kaiun and Mumbai-based Synergy Maritime.
The new joint venture, which is 50% owned by each party and named BW Global United LPG, will own and operate gas ships for the transportation of LPG within Indian waters.
BW LPG has entered into sales contracts to sell two of its VLGCs to the joint venture, the 2001-built BW Boss and 2002-built BW Energy.
“The joint venture will allow BW LPG to create a strong base in India which is one of the world’s largest LPG import markets. LPG growth in India is driven primarily by increased retail demand and strong support for LPG consumption from the government of India. Investments in import infrastructure, biomass displacement and continued government support also looks favourable for the LPG market. BW LPG looks forward to capturing growth opportunities alongside a trusted partner,” commented Martin Ackermann, CEO of BW LPG.
