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BW LPG to Sell Gas Carrier BW Levant for $38 Million in Proceeds, $17 Million Net Gains

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BW LPG (BWLP), one of the world's leading owners and operators of LPG shipping vessels, intends to sell its 2015-built BW Levant, a very large gas carrier, which it acquired from Avance Gas in 2024, it said on Monday.

The sale is set to generate $38 million in gross proceeds for the company, along with a net gain of $17 million, with delivery to the buyer scheduled for mid-November, allowing BW to continue using the asset in the currently-strong global freight market.

The company's CEO, Kristian Sorensen, said that the transaction reflects the company's "disciplined approach to capital allocation," as it realizes a strong return just two years after purchasing the vessel, all the while continuing to renew its fleet.

Sorensen noted that BW LPG would remain "focused on active and opportunistic asset management to generate shareholder value."

The company currently operates a fleet of more than 50 VLGCs, including 20 vessels powered by LPG dual-fuel propulsion technology.

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