BW LPG to acquire 12 Very Large Gas Carriers from Avance Gas for $1.05bn.

BW LPG, a LPG vessels owner and operator, agreed to acquire 12 Very Large Gas Carriers from Avance Gas, a liquefied petroleum gas transportation company, for $1.05bn. “This strategic transaction supports BW LPG’s ambition to serve our customers with enhanced shipping and product delivery options in the fast-growing LPG space. The addition of these 12 vessels will result in an expanded fleet, greater flexibility, and are expected to be accretive to earnings based on our market view. They will also support our product trading and terminal activities,” Andreas Sohmen-Pao, BW LPG Chairman of the Board.