BW LPG India, a 52%-owned subsidiary of BW LPG Limited, has agreed to sell its 18-year-old very large gas carrier (VLGC), BW Loyalty, for a price in the low US$80 million range. The transaction highlights strong demand in the secondhand LPG carrier market and supports the company’s fleet renewal strategy.
Built in 2008, BW Loyalty has a cargo capacity of approximately 84,601 cubic metres and will continue operating in the global liquefied petroleum gas (LPG) transportation market under its new ownership.
According to BW LPG, the sale is expected to generate a gain on disposal of approximately US$52 million and net cash proceeds of around US$66 million after taxes and transaction costs. These figures are calculated on a 100% basis rather than BW LPG’s attributable 52% ownership in the Indian subsidiary.
The vessel will be delivered to the buyer after completing its existing time charter, with the handover scheduled no later than December 2026. The buyer has not been disclosed.
The latest sale follows two other VLGC disposals by BW LPG India in 2026. The company agreed to sell BW Birch, built in 2007, in August and BW Elm, also built in 2007, in July. Together, the three transactions are expected to generate approximately US$194 million in net cash proceeds and US$125 million in disposal gains on a 100% basis.
The disposals come as BW LPG advances a major fleet renewal programme. In May 2026, the company contracted eight new 90,000-cubic-metre Panamax VLGCs from South Korea’s HD Hyundai Heavy Industries for approximately US$940 million, with deliveries scheduled between 2029 and 2030.
The strategy combines the sale of older vessels at favourable secondhand market prices with investment in larger, newer ships. The move is expected to strengthen the company’s financial position while supporting operational efficiency and long-term competitiveness in international LPG shipping.