Deal to purchase Spain-based oil trader and bunker supplier’s LPG trading operations expected to close at the end of 2022
The acquisition, for an undisclosed sum, is aimed at supporting BW LPG’s fleet operations and expanding the Oslo-listed business’ product services division. BW LPG established an integrated product services division in February 2019 in support of its core shipping business.
“This acquisition will allow BW LPG to scale its product services offering to provide even better service to customers while boosting fleet utilisation,” a statement from the Singapore-headquartered company said.
The acquisition is subject to approval from the Spanish regulatory authorities, and the transaction is expected to close by the end of Q4 2022.
Associated with BW Group, BW LPG’s fleet of very large gas carriers (VLGCs) have a more than 3M m3 capacity and BW Group’s 200 LNG and LPG carrier fleet is the world’s largest.
BW LPG has recently finished a six-year, US$130M retrofit programme to convert 15 vessels in its fleet to run on dual-fuel engines.
With the redelivery ofBW Malacca – the last of these 15 VLGCs to be converted – BW LPG completed the programme May 2022.
As was the case in the previous 14 conversions, the ship’s MAN B&W 6G60ME-C9.2 type engine was retrofitted to a MAN B&W 6G60ME-C9.5-LGIP dual-fuel type, capable of operating on fuel oil and LPG. Conversion work also involved installing two 900-m3 deck fuel tanks, each weighing about 89 tonnes. Each of the 35-m tanks is made of low-temperature steel, encased in a thick insulation material. Wärtsilä Gas Solutions supplied the fuel gas supply systems for all 15 vessels. The newly converted VLGCs carry the DNV notation GF LPG.
The refit was carried out at Yiu Lian Dockyards in Shenzhen, China in conjunction with the gas carrier’s scheduled, five-year drydocking and under the supervision of MAN PrimeServ, MAN Energy Solutions’ after-sales division. BW Malaccahas since passed sea trials.
