View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 31, 2017

BW LPG and Global United Shipping to form JV in India

BW LPG and Global United Shipping India have agreed to set up a 50/50 joint venture (JV) in India.

BW LPG and Global United Shipping India have agreed to set up a 50/50 joint venture (JV ) in India.

The BW Global United LPG India JV will own and operate gas carriers for the transportation of LPG within Indian waters.

Under the terms, BW LPG will sell two of its vessels, namely BW Boss and BW Energy , to the JV , and has signed binding vessel sales contracts for this purpose.

"LPG growth in India is driven primarily by increased retail demand and strong support for LPG consumption from the government of India."

BW LPG CEO Martin Ackermann said: “The joint venture will allow BW LPG to create a strong base in India, which is one of the world's largest LPG import markets. LPG growth in India is driven primarily by increased retail demand and strong support for LPG consumption from the government of India.

"Investments in import infrastructure, biomass displacement and continued government support also looks favourable for the LPG market. BW LPG looks forward to capturing growth opportunities alongside a trusted partner.”

BW LPG currently owns and operates 54 Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC ), including two VLGC newbuilds with a total carrying capacity of 4.5 million cubic metres.

With four decades of operating experience in LPG shipping, BW LPG is associated with BW Group .

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology