BW LPG (BWLP) announced the sale of 2007-built BW Cedar for further trading, and the exercise of a purchase option for 2019-built BW Kizoku. BW LPG announced that its 52% owned subsidiary BW LPG India has decided to sell its 2007-built vessel BW Cedar as part of a planned fleet renewal. On a 100% basis, the sale is priced at approximately $65M and is expected to generate a net book gain of around $33M and about $51M in net cash after repayment of its existing bank loan. The vessel will be delivered to the new owners in Q1 2025. In addition, BW LPG has declared a purchase option for BW Kizoku, a 2019 Japan-built VLGC. BW Kizoku is currently on time charter with BW LPG with a purchase option, which BW LPG exercised for a consideration of $69.8M. The vessel is expected to be delivered in January 2025 and will continue to trade in the conventional BW LPG fleet.
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