Aurora LPG Bows Out
Aurora LPG has become a fully owned and integrated subsidiary of the Singapore-based BW LPG, with all nine of the company’s carriers now renamed.
The full integration follows the acquisition of all shares in Aurora LPG by BW LPG and the delisting of Aurora from Oslo Axess in December 2016.
BW LPG has also terminated all agreements with Atlantic Tankers AS – the company set up by Aurora LPG to commercially manage their vessels. Technical management of the vessels will remain unchanged, BW LPG said.
Effective as of January 19, 2017, all matters pertaining to the Aurora LPG vessels will be handled by BW LPG.
As part of the integration process, all vessels will be changing names, Aurora Taurus to BW Thor, Aurora Leo to BW Tyr, Aurora Capricorn to BW Odin, Aurora Balder to BW Balder, Aurora Njord to BW Njord, Aurora Var to BW Var, Aurora Brage to BW Brage, Aurora Freyja to BW Freyja, and Aurora Frigg to BW Frigg.
BW LPG has also announced the opening of offices in Oslo and Houston. The Oslo office will mainly focus on chartering and commercial services, whilst the Houston office will focus on operations and technical services.
BW LPG’s financial results for Q4 2016 will include Aurora LPG’s December income and cash flow statements, and both companies’ balance sheets will be fully consolidated as at the end of the quarter, BW LPG said.
