BW LPG Exercises Options with HHI for Two VLGCs

BW LPG has exercised its options for the construction of two Very Large Gas Carriers (VLGCs) at Hyundai Heavy Industries, to be delivered in the first half of 2016.

This decision reflects BW LPG’s confidence in deploying newbuild assets efficiently to deliver accretive value, albeit the global order book for VLGCs has grown substantially.

Continued strong growth in US exports of propane and butane underscore the long-term positive outlook for the LPG transportation sector. BW LPG, with strong commercial and operating platforms resulting from its long history in LPG transportation, remains positioned to benefit from this export growth, and to continue to operate with market-leading utilization as a result of its portfolio of timecharters and contracts of affreightment.

Press Release, February 28, 2014; Image: BW

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