BW sells old LPG vessel

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By Mirza Duran BW LPG, a unit of the Singapore gas shipping giant BW, has sold its old carrier Berge Summit to an unidentified owner for continued trading.

Image: BW LPG

The LPG shipper says the sale would generate about $9 million in liquidity and an expected net book gain of $4 million.

BW took ownership of the 1990-built very large gas carrier in 2015.

The 78,489-cbm vessel served as a floating storage for Vitol’s gas-to-power project in the US Virgin Islands for the last five years.

Chief executive Anders Onarheim said the transaction was in line with the company’s asset management strategy.

The company now owns

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