BW LPG Limited Announces Sale of BW Levant

Key Terms

net book gain financial

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.

net cash proceeds financial

The actual cash a company receives from a financing or sale after subtracting direct transaction costs such as bank and legal fees, commissions, taxes and other closing expenses. Think of it like selling a house and keeping what’s left after paying the realtor and closing costs — it’s the money that truly lands in the company’s account. Investors watch net cash proceeds because they determine how much cash is available for growth, paying down debt, dividends or share buybacks and therefore affect financial strength and valuation.

lpg dual-fuel propulsion technology technical

A system that lets an internal combustion engine run on a mix of liquefied petroleum gas (LPG) and a conventional fuel (usually diesel or gasoline), either by switching between fuels or burning them together. Think of it as a two-fuel setup like a hybrid stove that can use gas or electricity: it gives operators flexibility on fuel choice, can change operating costs and emissions, and affects maintenance and refueling logistics—factors investors watch for cost, regulatory, and operational impacts.

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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 Levant, acquired in the 2024 Avance Gas transaction.

The sale of BW Levant is expected to generate a net book gain of approximately US$17 million and net cash proceeds of around US$38 million. The vessel is scheduled for delivery to the buyer at the latest by mid-November, enabling BW LPG to continue generating revenue from the asset in a strong freight market.

Kristian Sørensen, CEO of BW LPG, says “This sale demonstrates our disciplined approach to capital allocation, realising a strong return just two years after purchasing the vessel through the Avance Gas transaction. As we continue renewing our fleet, we remain focused on active and opportunistic asset management to generate 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), including over 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20260720526201/en/

For further information, please contact:
Kristian Sørensen, CEO
Samantha Xu, CFO
investor.relations@bwlpg.com

Source: BW LPG Limited