BW LPG Limited announced the sale of the 2015-built BW Levant, acquired in the 2024 Avance Gas transaction.
The sale of BW Levant is expected to generate a net book gain of approximately US$17 million and net cash proceeds of around US$38 million. The vessel is scheduled for delivery to the buyer at the latest by mid-November, enabling BW LPG to continue generating revenue from the asset in a strong freight market.
Kristian Sørensen, CEO of BW LPG, says “This sale demonstrates our disciplined approach to capital allocation, realising a strong return just two years after purchasing the vessel through the Avance Gas transaction. As we continue renewing our fleet, we remain focused on active and opportunistic asset management to generate shareholder value”.