|Exmar and BW Gas in vessel swap|
|Wednesday, 20 July 2011 11:14|
Exmar and BW Gas have reached an agreement to swap two of Exmar’s VLGCs for a number of ships from BW Gas’s midsize fleet. The vessels are scheduled to be delivered between August 15 and September 30.
In exchange for the ‘Flanders Liberty’ and the ‘Flanders Loyalty’, Exmar will receive the ‘BW Hugin’, ‘BW Helga’, ‘BW Hedda’ and ‘BW Sombeke’. The settlement will include a cash contribution of US$35 million payable by BW Gas to Exmar.
The transfer of the VLGCs goes together with the novation of time-charters to BW Gas. The midsize vessels will remain dedicated to existing Exmar’s North Sea LPG contract commitments.
Latest Book Reviews
- 21st Century Seamanship
- Small Navies: Strategy and Policy for Small Navies in War and Peace
- The Baltimore Sabotage Cell: German Agents, American Traitors, and the U-Boat Deutschland During World War I
- Re-Inventing The Ship: Science, Technology and the Maritime World, 1800-1918
- The Indian Ocean and US Grand Strategy: Ensuring Access And Promoting Security
- Memoirs Of A Seafaring Life: The Narratives of William Spavens
- The Way Things Were
Latest CommentsTracey: I am reading a wonderful and impressive story......
Martin Renilson: Neil,
Nice positive comment - I couldn't agree with you more.
Ralph Stevens: Thanks for the insight Neil.
Robert Scorsone: Hi, I would like to know about the suction dredge the Sir Thomas Riley, built in Maryborough shipyar...