Energy News Beat
VLGC owner and operator BW LPG is adding another modern gas carrier to its owned fleet.
The dual-listed unit of Singapore’s BW Group has exercised a purchase option on the 2020-built BW Yushi for around $70m.
The vessel, estimated by Veson Nautical’s pricing platform VesselsValue at $96.5m, will be delivered from Singapore’s Grace Ocean Investment in the second quarter of this year.
The 83,315 cu m unit is the sister vessel of the 2019 Mitsubishi-built BW Kizoku, BW LPG picked up from Grace Ocean last November at about the same price, with delivery closed earlier this month.
The company also took delivery of all 12 VLGCs acquired from John Fredriksen-controlled Avance Gas last year and now boasts a fleet of more than 50 ships in this segment.
One older vessel previously agreed for sale exited the fleet in February for about $65m, delivering a net book gain of $32m.
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