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.
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