BW LPG India sells 2008-built VLGC BW Loyalty for low $80 million range

BW LPG India, 52% owned by the Oslo- and New York-listed BW LPG Limited, has agreed to sell the very large gas carrier BW Loyalty for continued trading. The 84,601 cu m ship was built in 2008, and the buyer has not been named.

According to the company's announcement, the price is in the low $80 million range. BW LPG expects a gain of about $52 million on the sale and net cash proceeds of about $66 million after taxes and transaction costs, both on a 100% basis. The ship will be delivered to her new owner at the end of her current time charter and no later than December 2026.

"Selling the BW Loyalty at a price in the low US$80 million demonstrates the strength of the second-hand market," said Kristian Sørensen, chief executive of BW LPG, describing the ship as an 18-year-old asset.

Is this part of a wider fleet renewal?

It is the third sale of an older VLGC by the Indian unit this year. In July BW LPG India sold BW Elm, built in 2007, for about $64 million in cash and a book gain of $36 million, and in August it agreed to sell the 2007-built BW Birch for about $64 million in net cash and a gain of $37 million. Across the three ships that comes to about $194 million in net cash and $125 million in gains. The BW Loyalty sale has not yet closed.

On the other side of the ledger, BW LPG ordered eight 90,000 cu m panamax VLGCs at HD Hyundai Heavy Industries in May for about $940 million, for delivery in 2029 and 2030, and raised a $300 million convertible bond in September, partly to finance them.

This story is part of the Maritime Briefing of 21 October 2026.