BW LPG sells BW Mistral for $104 million
Key points
- BW LPG (NYSE:BWLP) agreed to sell its 2015-built BW Mistral vessel, acquired through the 2024 Avance Gas transaction.
- The sale is expected to generate approximately $37 million in net book gain and $104 million in net cash proceeds.
- The vessel will remain in the spot market until delivery, scheduled no later than mid-January 2027, allowing BW LPG to continue earning freight revenue before the sale closes.
BW LPG (NYSE:BWLP) agreed to sell its 2015-built BW Mistral, acquired through the 2024 Avance Gas transaction, in a deal expected to generate approximately US$37 million in net book gain and US$104 million in net cash proceeds.
The vessel has contributed to earnings since its acquisition and remains active in the spot market, allowing BW LPG to continue earning freight revenue before its scheduled delivery to the buyer by mid-January 2027.
"The sale well above US$100 million allows us to further crystallise value from the vessel, realising returns from the strength of the second-hand market," said Kristian Sørensen, Chief Executive Officer of BW LPG.
The transaction represents an expected US$104 million cash inflow and approximately US$37 million accounting gain, with the sale remaining subject to completion and vessel delivery.
BW LPG operates approximately 50 Very Large Gas Carriers and Large Gas Carriers, including 20 vessels equipped with LPG dual-fuel propulsion technology, serving customers involved in global liquefied petroleum gas transportation.
The company also operates an in-house LPG trading division and pursues vessel transactions and investments across the LPG value chain, with its Product Services division recording a third-quarter 2026 gross trading result of approximately US$164 million.
