BW LPG Sells BW Loyalty, Expects $52 Million Gain

BW LPG Limited said its 52%-owned subsidiary, BW LPG India, has agreed to sell the 2008-built vessel BW Loyalty for a price in the low US$80 million range.

The sale is expected to generate an approximately US$52 million gain on disposal. Net cash proceeds are expected to be about US$66 million after taxes and transaction costs.

The vessel is expected to be delivered to the buyer by December 2026.

CEO Kristian Sørensen said the sale reflects the strength of the second-hand market and BW LPG’s ability to realize value from its fleet. He said the transaction crystallizes significant value from an 18-year-old asset and strengthens BW LPG India’s financial position.