BW LPG India has capitalized on favorable market conditions by selling one of its older very large gas carriers (VLGCs) and reinvesting the proceeds into newer, more efficient vessels, strengthening its role in India’s fast-growing LPG import market.
The company confirmed the sale of the 2007-built BW Cedar for approximately USD 65 million. The transaction is expected to deliver a net book gain of around USD 33 million and generate close to USD 51 million in net cash after loan repayment. Delivery of the vessel is scheduled for the first quarter of 2025.
At the same time, BW LPG has signed a memorandum of agreement with its Indian subsidiary to transfer two modern 2015-built VLGCs—BW Pampero and BW Chinook. Each vessel is valued at about USD 75 million, with deliveries expected in the third quarter of 2025.
The dual move reflects BW LPG India’s fleet renewal strategy: monetizing older tonnage at strong second-hand values while adding younger, fuel-efficient carriers to its operations. The company noted that this approach will enhance efficiency, reduce emissions, and position it competitively in India’s energy transport sector, which has seen rising demand for LPG imports.
With these additions, BW LPG India is set to operate the youngest and largest Indian-flagged VLGC fleet, carrying an estimated 20 percent of India’s LPG imports. The company highlighted that government incentives, such as subsidy programs for Indian-flagged vessels, remain vital for sustaining fleet modernization and ensuring reliable energy supply chains.
The transactions underline BW LPG India’s role in supporting India’s energy security while aligning with the government’s “Atmanirbhar Bharat” vision for greater self-reliance in strategic infrastructure.
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