TGO acquires LPG carrier pair from BW

TGO acquires LPG carrier pair from BW

BW LPG, the gas shipping unit of BW Group, has sold 2003-built 44,800 dwt LPG carriers BW Nantes and BW Nice.

The company confirmed the sale in an announcement, revealing the delivery will take place in the first quarter of 2020.

The sale is expected to generate approximately $31m in liquidity and an expected net book gain of $9m for BW LPG.

Allied Shipbroking has identified Bahamas-registered TGO as the buyer of the two Kawasaki-built vessels. Each ship has fetched a price of $32m.

TGO, formerly known as Texas Gas and Oil, is mainly involved in the international trade of LPG.

Following the sale, BW LPG’s remaining owned and operating fleet has 47 VLGCs, including two newbuildings which are scheduled to be delivered in the fourth quarter of this year and the first quarter of 2020.

 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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