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BW LPG puts acquisition plans on hold

Following several attempts of taking over competitor Dorian last year, BW LPG now puts its acquisition plans slightly on hold. "It's not something I'm thinking about right now," CEO Martin Ackermann says to ShippingWatch.

Ackermann and BW LPG prepare for 18-month LPG upturn

BW LPG CEO Martin Ackermann predicts 18 months of recovery in the LPG sector, where spot rates are currently USD 50,000 per day. "At current levels, we make around USD 1 million in cash a day," the CEO tells ShippingWatch.

BW LPG's deficit grew in the first quarter

Gas shipping company BW LPG saw its deficit grow in the first months of the year. The shipping company expects better rates, but one trend in particular could work against further growth.

Shareholders demand back-payment from BW LPG

A group of former shareholders in gas carrier Aurora LPG feel cheated in connection with BW LPG's takeover of the company. They now demand a back-payment of approximately NOK 500 million.

BW closes dispute on contaminated bunker

BW LPG and World Fuel Services have agreed to close a dispute regarding supply of contaminated bunker in Texas. The settlement happened outside of court where the carrier demanded USD 700,000 in damages.

Ackermann keeps his eyes open for acquisitions

BW LPG Chief Executive Martin Ackermann reiterates that the shipping company is ready to act if opportunities arise for acquisitions and mergers. But the company can also grow on its own, he says.

Dorian LPG venter mere balanceret VLGC-marked

Dorians andet kvartal gav et underskud på bundlinjen, men "markedet er blevet mere balanceret", lyder det fra ledelsen. Samtidig sætter rederiet beløb på, hvad de kuldsejlede forhandlinger med BW LPG har kostet.

BW LPG withdraws offer to buy Dorian

After four months of courting, gas shipping company BW LPG has withdrawn its offer to buy competitor Dorian. A lost opportunity for shareholders and the sector, says BW Chairman Andreas Sohmen-Pao.

Dorian irritated by comments from BW LPG

What was likely intended to be an icebreaker in the frozen contact between BW LPG and Dorian seems to have had the opposite effect. Dorian is irritated by statements made by BW LPG Chief Executive Martin Ackermann to media, including ShippingWatch.

BW LPG's courtship of Dorian at standstill

BW LPG has been trying for months to buy competitor Dorian. But even a higher second offer was met with nothing but silence. "We're sitting here hoping for a response," BW LPG Chief Executive Martin Ackerman tells ShippingWatch.

Deficit grows at BW LPG

The ongoing weak rates for the LPG segment were apparent in the second quarter report from BW LPG, which saw a profit three times larger than in the second quarter of 2017.

BW LPG nominates three candidates for Dorian's board

The gas carrier and its CEO Martin Ackermann are going directly to Dorian's shareholders, nominating three candidates for Dorian's Board of Directors. There are already experienced and "highly qualified" people on our Board, Dorian replies.

Major stakeholder in Dorian speaks up

One of the founders of gas carrier Dorian LPG now talks openly about a merger with BW LPG, which has placed an offer on Dorian several times. Markets help those who help themselves, says Executive Chairman of major stakeholder Seacor.

Dorian declines BW LPG's new proposal

Dorian declines BW LPG's latest takeover proposal, writes the company in a notice. The gas shipping company's executive team is focusing on something else entirely.

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