Singapore’s BW LPG is expanding its product services division with the acquisition of the LPG trading operations from Spain’s Vilma Oil for an undisclosed sum.
The Oslo-listed BW Group company said the move should allow its division, established in 2019 in support of its core shipping business, to provide even better service while boosting fleet utilisation.
“The acquisition brings a highly experienced team with a strong track record to BW LPG, and is in line with our strategy to support our core shipping business,” said Anders Onarheim, BW LPG.
The deal is subject to approval from the Spanish regulatory authorities, and the transaction is expected to close by the end of the fourth quarter of this year.
The Madrid-based Vilma Oil trades more than 4m metric tons of petroleum products annually, including LPG, and has bunkering service in the port of Ceuta, with more than 2,000 ships supplied every year.