Singapore-based owner of gas carriers BW LPG has established a product services division in an effort to support its core shipping business.
As informed, the product services division is part of BW LPG’s ambition to provide a low-risk and fully-integrated product delivery service.
The company said it will purchase LPG and offer it delivered on the basis of cost, insurance and freight, directly to the end user.
By establishing the new division, BW LPG aims to maximize utilization of its vessels by providing full LPG delivery service, including product, while remaining focused primarily on shipping services.
“The new product services division reflects BW LPG’s ambitions to provide existing and new customers with reliable, integrated LPG delivery services. Whilst LPG shipping remains our core business, we aim to diversify our business offerings, innovate to capture market opportunities, and maximize value for both customers and shareholders,” Martin Ackermann, BW LPG CEO, commented.
BW LPG owns and operates very large gas carriers (VLGC) and large gas carriers (LGC) with a total carrying capacity of over 4 million cbm.
BW LPG is associated with BW Group, one of the world’s leading shipping groups. BW’s fleet of over 300 vessels includes oil tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, chemical tankers, dry cargo carriers and floating production storage and offloading (FPSO) units.