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BW LPG has entered to sell two very large gas carriers (VLGC) BW Confidence and BW Cedar.<\/strong><\/p>\n BW Confidence was built in 2006 and has a carrying capacity of 83,270 cubic meters. <\/p>\n The sale of the vessel is expected to generate approximately $36 million in liquidity and an expected net book gain of approximately $4 million. <\/p>\n The sale and delivery of the vessel to its new owner is expected to be completed in the first quarter of 2021.<\/p>\n BW Cedar was built in 2007 and has a carrying capacity of 82,260 cubic meters. The sale has no liquidity impact in the fourth quarter of 2020 and is expected to generate a net book gain of approximately $3 million. <\/p>\n BW Cedar will join three other VLGCs, namely BW Boss, BW Energy, and BW Birch in BW LPG’s joint venture company BW Global United LPG India. <\/p>\n All four vessels are on time charter contracts to major Indian oil companies to supply India with LPG.<\/p>\n Anders Onarheim<\/strong>, CEO of BW LPG, said, “Committing both vessels for sale is aligned with our strategy to capture growth opportunities. With a strong VLGC freight market, we secured an attractive price for BW Confidence. With BW Cedar, we further strengthen BW LPG\u2019s strong base in India. India is the world’s second-largest LPG import market, and our JV is now the largest VLGC operator in India\u201d.<\/em><\/p>\n Upon completion of both sales, BW LPG will own and operate a fleet of 45 modern VLGCs, including BW Gemini, the world\u2019s first VLGC to be retrofitted with a pioneering LPG dual-fuel propulsion engine.<\/p>\n The post BW agrees VLGC duo sale<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" BW LPG has entered to sell two very large gas carriers (VLGC) BW Confidence and BW Cedar. Courtesy of BW LPG BW Confidence was built in 2006 and has a carrying capacity of 83,270 cubic meters. The sale of the vessel is expected to generate approximately $36 million in liquidity and an expected net book …<\/p>\n","protected":false},"author":1,"featured_media":22480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[4132,1121,1398,770],"class_list":["post-22479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-agrees","tag-duo","tag-sale","tag-vlgc"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/22479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=22479"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/22479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/22480"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=22479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=22479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=22479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}