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Aurora pressures BW LPG to raise acquisition offer

After meetings with the board of Aurora, the world's largest owner of gas vessels, BW LPG, has raised its takeover offer for Aurora and has now secured support from shareholders representing more than 52 percent of the share capital.

Avance Gas sticks with acquisition strategy after BW offer

The door remains wide open to the executive office at Avance Gas if industry peers are looking for collaboration partners, CEO Christian Andersen tells ShippingWatch. He explains that the gas carrier is still looking for acquisitions even though BW LPG has made a bid for Aurora LPG.

Who is Aurora LPG's "mysterious" lender?

Norwegian gas carrier Aurora LPG has secured a new credit facility of USD 21 million, but the carrier's management withholds the name of the creditor and the conditions of the loan. Analyst firm Pareto Securities is puzzled and wonders who this "mysterious lender" is.

Aurora LPG eyes better days ahead after tough quarter

Norwegian gas carrier Aurora LPG took a hit from the low rates in the first half of 2016, but management points to signs that the crisis is temporary in nature and that rates could rebound to sustainable levels already this year.

Avance CEO: The LPG crisis defies common sense

The fact that rates are sliding even though the vessels have plenty to do on the global LPG market go against every shipping theory out there, says Christian Andersen, CEO of Avance Gas. The company is ready to partake in consolidation, but the question is whether BW LPG will get there first?

Asset value impairments send BW LPG into the red

Impairments on asset values and lower rates for LPG transports hit VLGC market leader BW LPG with a major deficit in the second quarter this year. The future looks challenging, notes management.

LPG vessels had a short boom and a quick bust

The LPG vessels have entered a new phase which is in effect an elimination contest among the major players. Once the shipping industry's safest bet, plummeting rates and overcapacity have now altered the scenario completely, and only one of the major players looks set to outperform the rest.

BW LPG: We should not be too optimistic right now

BW LPG delivered a record result in 2015, but CEO Martin Ackermann is more subdued in regards to the coming year. "The whole world is under pressure so it's hard to be really optimistic right now," he says in an interview with ShippingWatch.

Carriers kick off VLGC consolidation race

Norwegian gas carrier Aurora is now being courted by both Avance Gas and BW LPG - two of the biggest VLGC carriers in a market where the race to achieve consolidation now seems to be underway. Its Andersen versus Ackermann.

BW LPG picks up major stake in Aurora LPG

The BW group's expansive gas carrier BW LPG has acquired a 12.13 percent stake in Oslo-listed Aurora LPG, whose board of directors has just rejected a takeover bid from Avance Gas.

Ackermann: Growing orderbook will normalize gas rates

BW LPG delivered an exceptional result in the third quarter, and scores of analysts are upgrading their forecasts for the gas carrier. But CEO Martin Ackermann is concerned about the number of newbuilding orders placed in recent months.

BW LPG beats expectations in third quarter

Gas carrier BW LPG delivered a result after taxes of USD 106.2 million in the third quarter, and the carrier thus surpassed analysts' expectations. Cryptic comments about next year.

BW Pacific establishes European office

Singapore-based BW Group, one of the world's biggest shipping groups, is boosting its European presence by opening an office in Copenhagen for its product tanker carrier BW Pacific.

Ackermann off to flying start as head of BW LPG

Martin Ackermann was recently appointed CEO of gas tanker giant BW LPG, the world’s largest owner of major gas tank vessels. He looks forward to growth markets in the future despite current low energy prices and turmoil in China, he tells ShippingWatch.

Ackermann i flyvende start i BW Groups gaskæmpe

Danske Martin Ackermann, netop tiltrådt som topchef i BW LPG, der er verdens største ejer af store gasskibe, ser ind i et vækstmarked mange år frem uanset lave energipriser og uro i Kina. Det fortæller han i et interview med ShippingWatch.

BW LPG: The challenge is a big fleet

BW LPG is growing with the acquisition of shares in Dorian LPG to become an even bigger VLGC player. One big challenge is the optimization of the entire fleet, says CEO Nicholas Gleeson to ShippingWatch.

BW LPG: Stor flåde er udfordringen

BW LPG vokser med opkøbet af aktier i Dorian LPG til en endnu større VLGC-spiller. Udfordringen er optimal udnyttelse af flåden, fortæller CEO Nicholas Gleeson til ShippingWatch.

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