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BW LPG exercises two VLGC options with Hyundai Heavy Industries
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.
BW LPG is the world’s largest very large gas carrier (VLGC) owner and operator based on number of VLGCs and by LPG carrying capacity. BW LPG owns and operates 36 gas carriers with a total carrying capacity of about 3 million cbm and a further 504,000 cbm of capacity on order in Korea. With 35 years of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. BW LPG is associated with BW Group, one of the world’s leading shipping groups. BW Group is involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deep-water production.
Source: BW PLG
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.
BW LPG is the world’s largest very large gas carrier (VLGC) owner and operator based on number of VLGCs and by LPG carrying capacity. BW LPG owns and operates 36 gas carriers with a total carrying capacity of about 3 million cbm and a further 504,000 cbm of capacity on order in Korea. With 35 years of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. BW LPG is associated with BW Group, one of the world’s leading shipping groups. BW Group is involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deep-water production.
Source: BW PLG
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