Complete Maritime Profile & Reviews of Sia

Oslo – BW LPG has officially exercised its option to purchase the Very Large Gas Carrier (VLGC) Vermilion First, a vessel built in 2010 with a deadweight tonnage of 49,999. The acquisition from Daiichi Chuo Marine will cost the company $73 million. With a capacity of approximately 77,323 cubic meters, the Vermilion First has been under a time charter with BW LPG since the company took over the charter agreement from Maersk Tankers back in 2013. BW LPG anticipates that the vessel will be delivered within the next few weeks, ready for both spot market opportunities and Contracts of Affreightment (CoA). The funding for this significant purchase will come from the company's available cash reserves and a revolving credit facility. [02/03/15]