BW LPG sells vessels to expand Indian fleet amidst rising LPG demand

In Singapore, on March 31, 2025, BW LPG Limited announced the signing of a Memorandum of Agreement (MOA) with BW LPG India for the sale of two Very Large Gas Carriers (VLGCs), BW Pampero and BW Chinook. This transaction, valued at approximately USD 75 million per vessel, is part of BW LPG's strategy to expand and renew its fleet in India, a key market for the company's growth plans. The vessels, which were acquired in a recent transaction with Avance Gas, are expected to be delivered in the third quarter of 2025. BW LPG India, which currently operates India’s largest fleet of VLGCs, aims to enhance its operational capability and fleet size in light of India’s increasing demand for liquefied petroleum gas (LPG). Founded as a joint venture in 2017, BW LPG India holds a significant position in the Indian market, maintaining a fleet that is entirely Indian-flagged and operated. This aligns with the country’s Atmanirbhar Bharat initiative, promoting self-reliance in the energy sector. The fleet currently consists of seven ships, accounting for approximately 20% of LPG imports into India. The acquisition of the two modern vessels will not only add capacity to the fleet but also contribute to its renewal. BW LPG has experienced a tumultuous few years navigating geopolitical uncertainties, yet continues to pursue growth opportunities in high-potential markets like India. According to CEO Kristian Sørensen, the deal reflects the company’s commitment to meeting increasing LPG demands in India while simultaneously upgrading their fleet to meet modern standards. The collaboration with local partners, including Maas Capital and Global United Shipping, plays a vital role in maintaining competitiveness in a rapidly evolving market.