BW LPG announces divestment of Berge Summit

Singapore - 15 July 2020

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) has concluded the sale and delivery of Berge Summit to its new owner for continued trading. Berge Summit was built in 1990 with a carrying capacity of 78,489 cbm and has been used as a LPG floating storage for a gas-to-power project for the last 5 years. The sale is expected to generate approximately US$9 million in liquidity and an expected net book gain of US$4 million.

Says Anders Onarheim, CEO of BW LPG, “The successful completion of this transaction is in line with our asset management strategy. BW LPG now owns and operates a fleet of 46 modern VLGCs, with an average age of 8.7 years. 12 of these vessels are scheduled for LPG dual-fuel engine retrofitting in 2020 and 2021, making them the most environmentally friendly VLGCs in the world.”

About BW LPG
BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, one of the world's leading shipping groups. BW Group controls a fleet of over 360 ships which includes product tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, dry cargo carriers, crude oil supertankers and floating production storage and offloading (FPSO) units.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

BW LPG press release