BW LPG agrees sale of VLGC BW Mistral amid strong secondhand market
BW LPG has announced the sale of its 2015-built very large gas carrier (VLGC) BW Mistral, continuing its fleet asset management activities amid strong conditions in the secondhand LPG carrier market.
The Singapore-based gas shipping company expects the transaction to generate approximately $104 million in net cash proceeds and a net book gain of around $37 million. The buyer has not been identified in the company’s announcement, while the vessel’s transfer is scheduled to take place no later than mid-January 2027.
The BW Mistral joined BW LPG’s fleet through its 2024 transaction with Avance Gas and has contributed to the company’s earnings during a period of favourable VLGC freight market conditions.
The vessel, which has a capacity of approximately 83,000 cubic metres, remains employed in the spot market and is expected to continue generating trading revenue for BW LPG until its delivery to the new owner.
Kristian Sørensen, Chief Executive Officer of BW LPG, said the transaction reflected the company’s approach to realising value from its fleet as secondhand vessel prices remain strong.
“The sale well above US$100 million allows us to further crystallise value from the vessel, realising returns from the strength of the second-hand market,” said Sørensen.
The disposal follows other vessel sale announcements by BW LPG during 2026, including the October agreement involving the BW Loyalty, owned by its Indian subsidiary. Unlike that transaction, the BW Mistral sale concerns a vessel held in BW LPG’s main owned VLGC fleet.
BW LPG operates a fleet of approximately 50 VLGCs and large gas carriers, supporting international LPG transportation alongside its trading and commercial pooling activities.
The announced sale represents a further step in the company’s efforts to manage its vessel portfolio and realise returns from the secondhand market. The estimated gain and net cash proceeds remain subject to completion of the transaction, with delivery expected by mid-January 2027.
