BW LPG Exercises Option to Buy VLGC

Singapore-based gas carrier owner and operator BW LPG has exercised the purchase option for the chartered very large gas carrier (VLGC) Vermilion First.

The VLGC Vermilion First has been on a time charter with BW LPG since the acquisition of the charter from AP Moller-Maersk in 2013.

The Vermilion First was built in 2010 at Mitsubishi Heavy Industries, Nagasaki Shipyard, and has a capacity of approximately 77,324 cubic metres.

BW LPG has exercised a purchase option which became available under the charter in Q1 2015. The company will settle the USD 73 million transaction from free cash and the revolving credit facility.

The delivery is expected within this month, and the vessel will continue to be available for spot and CoA cover.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >