BW Global United LPG India Private Limited created
BW LPG and Global United Shipping India are set to establish a joint venture in India in which will see them own 50% each of BW Global United LPG India Private Limited.
The JV will own and operate gas carriers to transport LPG within Indian waters. As part of the establishment, BW LPG will sell two of its vessels, BW Boss and BW Energy, to the joint venture company and to that end BW LPG has entered into binding vessel sales contracts.
CEO of BW LPG, Martin Ackermann said: “The joint venture will allow BW LPG to create a strong base in India which is one of the world’s largest LPG import markets. LPG growth in India is driven primarily by increased retail demand and strong support for LPG consumption from the government of India. Investments in import infrastructure, biomass displacement and continued government support also looks favourable for the LPG market. BW LPG looks forward to capturing growth opportunities alongside a trusted partner.”
For more information visit www.bwlpg.com
Image shows another BW LPG vessel
7th Aug 2017