BW sells old LPG vessel to an unidentified owner
BW LPG, a subsidiary of the Singapore gas shipping giant BW, sold its old carrier Berge Summit for continued trade to an unidentified owner.
The LPG shipper says the sale would generate around $9 million in liquidity, and $4 million in net book benefit expected.
In 2015 BW took ownership of the very large gas carrier, which was built in 1990.
The 78,489-cbm vessel has operated for the past five years as floating storage for Vitol's gas-to - power project in the US Virgin Islands.
The deal was in line with the company's asset management policy, said Chief Executive Anders Onarheim.
The company currently owns and operates a fleet of 46 new VLGCs, totaling 8.7 years of age.
In 2020 and 2021 BW will retrofit twelve of these vessels to dual-fuel LPG propulsion.
Maritime Business World