With daily rates of USD 100,000 a few weeks ago, the LPG market was basically a money press, as BW LPG chief executive Anders Onarheim puts it in an interview with ShippingWatch. Today, rates would have a hard time going any lower, he says.
BW LPG now buys a chunk of Avance Gas, which is controlled by Norwegian-Cypriot national John Fredriksen. The purchase pertains to a smaller stake, says BW LPG Chief Executive Anders Onarheim, who views increased consolidation in the segment positively.
BW LPG plans to install dual-fuel LPG engines on board three more vessels than the already planned 12. The engines are supplied by MAN Energy Solutions. BW LPG's Chief Executive Anders Onarheim sees both financial and practical benefits for the company, he tells ShippingWatch.