BW LPG Limited (BW LPG) has concluded the sale and delivery of Berge Summit to its new owner for continued trading. 

BW LPG announces divestment of Berge Summit

Berge Summit was built in 1990 with a carrying capacity of 78,489 cbm and has been used as a LPG floating storage for a gas-to-power project for the last 5 years. 

The sale is expected to generate approximately US$9 million in liquidity and an expected net book gain of US$4 million.

Says Anders Onarheim, CEO of BW LPG, “The successful completion of this transaction is in line with our asset management strategy. BW LPG now owns and operates a fleet of 46 modern VLGCs, with an average age of 8.7 years. 12 of these vessels are scheduled for LPG dual-fuel engine retrofitting in 2020 and 2021, making them the most environmentally friendly VLGCs in the world.”

Source: BW LPG