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SINGAPORE--(BUSINESS WIRE)--
BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code: “BWLP”) is pleased to announce the sale of the 2015-built BW Mistral, acquired in the 2024 Avance Gas transaction.
The sale of BW Mistral is expected to generate a net book gain of approximately US$37 million and net cash proceeds of around US$104 million.The vessel is currently trading in the spot market and is scheduled for delivery to the buyer latest by mid-January 2027, enabling BW LPG to continue generating revenue from the asset in a strong freight market.
Kristian Sørensen, CEO of BW LPG, says "Acquired through the Avance Gas transaction in 2024, BW Mistral has since made a significant contribution to earnings, benefiting from a strong freight market. The sale well above US$100 million allows us to further crystallise value from the vessel, realising returns from the strength of the second-hand market. This reflects our focus on disciplined asset management and pursuing attractive asset-plays to create shareholder value."
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of about 50 Very Large Gas Carriers (VLGCs) and Large Gas Carriers (LGCs), including 20 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide. Delivering energy for a better world – more information about BW LPG can be found at www.bwlpg.com.
BW LPG is associated with BW Group, a leading global energy and maritime company involved in shipping, deepwater oil & gas production, renewable energy and digital infrastructure. BW controls a fleet of over 400 vessels transporting oil, gas and dry commodities. In the infrastructure space, the group operates in wind, batteries, water, subsea cable networks and data centres. www.bw-group.com
The amount by which the cash or proceeds received from disposing of an asset exceed that asset’s carrying (book) value on the company’s balance sheet, after accounting for any direct selling costs; think of it like selling a used car for more than its remaining value in your ledger. It matters to investors because net book gains flow into reported earnings and can affect cash, taxes, and the apparent profitability of a company’s asset sales, so they help explain one-time boosts or declines in results.
very large gas carrierstechnical
Very large gas carriers are ocean-going ships built to carry huge volumes of liquefied gases, such as liquefied petroleum gas or other hydrocarbon gases, over long distances. For investors, they matter because their size drives lower per-unit shipping costs—like a big truck hauling many crates at once—while also concentrating market and regulatory risks (charter rates, fuel, safety rules and demand swings) that affect freight revenue and vessel value.
large gas carrierstechnical
Sea-going merchant vessels specially designed to carry large volumes of liquefied gases—most commonly liquefied natural gas (LNG) or liquefied petroleum gas (LPG). They have specialized, pressurised or cryogenic cargo tanks and systems for temperature and pressure control, gas containment, cargo loading/unloading, and safety (including handling of boil‑off gas). Capacity is expressed in cubic metres and the label “large” signals a high cargo volume class used for ocean transport rather than small coastal or inland gas tankers; exact size cutoffs vary by segment and market convention. The term covers different technical designs (for example, membrane, spherical/IMO Type C or Type I/II/III tanks) depending on the gas carried and voyage requirements.
