BW LPG announced the sale of the 2015-built BW Mistral, acquired in the 2024 Avance Gas transaction.
The sale of BW Mistral is expected to generate a net book gain of approximately US$37 million and net cash proceeds of around US$104 million. The vessel is currently trading in the spot market and is scheduled for delivery to the buyer latest by mid-January 2027, enabling BW LPG to continue generating revenue from the asset in a strong freight market.
Kristian Sørensen, CEO of BW LPG, says “Acquired through the Avance Gas transaction in 2024, BW Mistral has since made a significant contribution to earnings, benefiting from a strong freight market. The sale well above US$100 million allows us to further crystallise value from the vessel, realising returns from the strength of the second-hand market. This reflects our focus on disciplined asset management and pursuing attractive asset-plays to create shareholder value.”