Latest news with #BWLPGIndia
Time of India
08-05-2025
- Business
- Time of India
Japan's Mitsui O.S.K. Lines expands Indian flag fleet with a Very Large Gas Carrier
MUMBAI: Japan's Mitsui O.S.K. Lines , Ltd (MOL), the world's second largest ship owner by fleet size, has added a Very Large Gas Carrier (VLGC) to the fleet run by its Indian unit, reinforcing a rising trend among foreign fleet owners to register some of their ships in the world's fastest growing major economy. The 2010-built liquefied petroleum gas tanker named 'Green Sachi' and earlier flagged in Liberia was converted to the Indian flag recently and inducted into the fleet of MOL (India) Pvt Ltd, the ship owner said. MOL (India) runs 11 Indian flagged gas, product and crude tankers, making it the fourth largest Indian ship owner by fleet size. MOL (India), formed in the Domestic Tariff Area (DTA), is also engaged in car carrier transportation and ship management, further expanding its footprint in India. Separately, MOL has opened a unit – MOL Shipping IFSC Pvt Ltd - in the Gujarat International Finance Tec-City ( GIFT City ), India's first and currently the only International Financial Services Centre (IFSC) operating under the Special Economic Zone Act, for leasing and operating ships. On April 28, Marseille, France-based CMA CGM S A, the world's third largest container shipping line, converted one of its foreign flag container ships to the Indian flag, making it the first big global container carrier to register a container ship in India. The carrier is in the process of converting three more of its foreign flag container ships to the Indian flag. The four container ships will be owned by CMA CGM's Indian unit - CMA CGM Shipping Assets India IFSC Pvt Ltd – set up in the GIFT City. On March 31, Oslo and New York-listed BW LPG Ltd, the world's top owner and operator of LPG vessels, including VLGC, said it will sell two modern VLGCs to its Indian unit – BW LPG India – in a deal worth $150 million. The ship purchase will help BW LPG India - the largest owner and operator of Indian-flagged VLGCs – expand its fleet to nine LPG carriers. Both MOL and BW LPG India have benefitted from a so-called right of first refusal (RoFR) available to Indian flag ships for moving state-owned cargo along with the subsidy given by the government to Indian shipping companies in global tenders floated by ministries, departments and Central Public Sector Enterprises (CPSEs) for importing some specified cargo. Under the Cabinet approved subsidy scheme, Indian fleet owners get a 5-15 per cent extra on charter rates, depending on age slabs, on ships registered in India after February 1, 2021. The government has budgeted a corpus of Rs 1,624 crore to be disbursed as subsidy for moving crude oil, LPG, coal, and fertiliser cargo for state-run firms, over five years till 2026, to boost Indian tonnage .
Time of India
08-05-2025
- Business
- Time of India
Japan's Mitsui O.S.K. Lines expands Indian flag fleet with a Very Large Gas Carrier, ET EnergyWorld
Advt Advt By , ETInfra Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETEnergyworld App Get Realtime updates Save your favourite articles Scan to download App Japan's Mitsui O.S.K. Lines , Ltd (MOL), the world's second largest ship owner by fleet size, has added a Very Large Gas Carrier (VLGC) to the fleet run by its Indian unit, reinforcing a rising trend among foreign fleet owners to register some of their ships in the world's fastest growing major 2010-built liquefied petroleum gas tanker named 'Green Sachi' and earlier flagged in Liberia was converted to the Indian flag recently and inducted into the fleet of MOL (India) Pvt Ltd, the ship owner (India) runs 11 Indian flagged gas, product and crude tankers, making it the fourth largest Indian ship owner by fleet size. MOL (India), formed in the Domestic Tariff Area (DTA), is also engaged in car carrier transportation and ship management, further expanding its footprint in MOL has opened a unit – MOL Shipping IFSC Pvt Ltd - in the Gujarat International Finance Tec-City ( GIFT City ), India's first and currently the only International Financial Services Centre (IFSC) operating under the Special Economic Zone Act, for leasing and operating April 28, Marseille, France-based CMA CGM S A , the world's third largest container shipping line, converted one of its foreign flag container ships to the Indian flag, making it the first big global container carrier to register a container ship in India. The carrier is in the process of converting three more of its foreign flag container ships to the Indian four container ships will be owned by CMA CGM 's Indian unit - CMA CGM Shipping Assets India IFSC Pvt Ltd – set up in the GIFT March 31, Oslo and New York-listed BW LPG Ltd, the world's top owner and operator of LPG vessels, including VLGC, said it will sell two modern VLGCs to its Indian unit – BW LPG India – in a deal worth $150 ship purchase will help BW LPG India - the largest owner and operator of Indian-flagged VLGCs – expand its fleet to nine LPG MOL and BW LPG India have benefitted from a so-called right of first refusal (RoFR) available to Indian flag ships for moving state-owned cargo along with the subsidy given by the government to Indian shipping companies in global tenders floated by ministries, departments and Central Public Sector Enterprises (CPSEs) for importing some specified the Cabinet approved subsidy scheme, Indian fleet owners get a 5-15 per cent extra on charter rates, depending on age slabs, on ships registered in India after February 1, government has budgeted a corpus of Rs 1,624 crore to be disbursed as subsidy for moving crude oil, LPG, coal, and fertiliser cargo for state-run firms, over five years till 2026, to boost Indian tonnage
Fashion Value Chain
28-04-2025
- General
- Fashion Value Chain
A Sustainable Shift in Service: Akshaya Patra and BW LPG India Collaborate in Puri
At The Akshaya Patra Foundation, every wholesome meal served is a step toward enabling education and building a healthier, brighter future for children. Our journey in Puri, Odisha, has taken a meaningful leap towards sustainability through a valued partnership with BW LPG India, India's largest owner and operator of Very Large Gas Carriers (VLGCs) for liquefied petroleum gas (LPG) shipping. The company is committed to deliver cleaner energy for a sustainable future and proudly supports related community initiatives. BW LPG India fuels Akshaya Patra's Puri kitchen with clean LPG for a greener future Background Puri is not just a pilgrimage hub; it is a city that balances deep-rooted spiritual significance with modern environmental consciousness. Known for the revered Jagannath Temple, the city has also embraced eco-friendly initiatives-making it an ideal place for sustainable innovations in community service. Akshaya Patra in Puri In Puri, Akshaya Patra began its operations in 2006 driven by the vision No child shall be deprived of education because of hunger. Today, the Puri kitchen provides nutritious mid-day meals to nearly 40,000 children studying in 583 government and government-aided schools in the city and surrounding areas, by supporting the PM POSHAN Abhiyaan, our meals play a pivotal role in improving children's health, school attendance, and learning outcomes. The centralised kitchen provides hygienic, nutritious and freshly prepared mid-day meals daily, playing a vital role in improving school enrolment, attendance and retention as well as children's health outcomes, and consequently, their academic performance. Akshaya Patra – BW LPG India Partnership Akshaya Patra has initiated a strategic shift towards becoming more environmentally sustainable, and in this, the Foundation has had the considerable support of donors like BW LPG India, who have supported its operations in Puri, Odisha. In line with Akshaya Patra's sustainability commitment, the Puri Centralised Kitchen, which prepares over 52,000 meals daily, transitioned from a briquette-fired boiler to a liquefied petroleum gas (LPG)-fired boiler with the support of BW LPG India. This move not only optimised operations but also brought significant environmental, community and cost-related benefits. BW LPG India leadership team adds, 'We are committed to the communities in which we operate, and we are proud to continue our partnership with Akshaya Patra Foundation to sponsor the energy needs of school kitchens with clean-burning LPG-fuelled equipment, reinforcing our firm conviction in delivering energy for a better world'. Mr. Dhananjay Ganjoo, Chief Marketing Officer of The Akshaya Patra Foundation, shared, 'At Akshaya Patra, we believe that true service must go hand-in-hand with sustainability. Our collaboration with BW LPG India is a shining example of how thoughtful innovation can nourish both people and the planet. By reducing our environmental footprint while enhancing meal delivery for children, we are building a healthier future-one meal, one initiative at a time.' Impact – Energy Transition at Akshaya Patra Puri Kitchen: Briquettes to LPG-fired Boiler Before – Challenges with Briquette-fired Boiler 1. High Fuel Load, Lower Efficiency Daily Briquette Usage: 1,650 kg Calorific Value: ~3,800 kcal/kg → 6.27 million kcal/day Combustion Efficiency: ~65%, leading to thermal losses and higher input fuel needs 2. Particulate Matter & Pollution Briquettes emit high levels of PM2.5, soot and CO, leading to poor air quality inside the kitchen and surrounding area Persistent community complaints and pollution board concerns due to black smoke and ash 3. Manpower & Maintenance Overheads Manual fuel feeding, slag removal, and cleaning required extra labour and caused frequent boiler downtime Ash handling created hygiene issues near food processing zones 4. Operational Cost Cost/kg: Rs. 8.50 → Daily Cost: Rs. 14,025 Requires large dry storage and handling areas for 1.6 tonnes/day After – Benefits of LPG-fired Boiler Upgrade 1. Higher Thermal Efficiency LPG Calorific Value: ~11,500 kcal/kg To meet 6.27 million kcal/day, only 545 kg LPG/day is required Combustion Efficiency: ~95%, providing faster and cleaner steam generation 2. Clean combustion, Air Quality & Hygiene Improvement LPG combustion emits almost zero particulate matter, soot or ash. Drastically reduced kitchen emissions enhanced air quality for kitchen staff and the local community Compliance to the Government's regulations of lowering air pollution as Puri is a place of importance from the pilgrimage and tourism perspectives 3. Manpower Savings & Easy Operation Automated burners and no ash to handle = ~30-40% manpower reduction in Fuel handling Lower downtime and safer operations 4. Low Capex & Minimal Maintenance LPG systems are modular and skid-mounted, requiring lower upfront investment No moving grates, conveyors, or soot blowers-maintenance costs dropped significantly Carbon Footprint Reduction (235 Operational Days) Parameters Briquettes LPG COâ Emission Factor ~1.8 kg COâ per kg ~2.88 kg COâ per kg Daily Usage 1,650 kg/day 545 kg/day Daily COâ Emissions 2,970 kg COâ/day 1,569.6 kg COâ/day Annual COâ Emissions 699,950 kg 368,856 kg Approx. Annual Emissions ~700 tonnes/year ~369 tonnes/year Net Carbon Emissions Reduction Parameter Briquette Boiler LPG Boiler Fuel Used (per day) 1,650 kg 545 kg COâ Emissions/Day ~2.97 tonnes ~1.57 tonnes Annual COâ (235 days) ~700 tonnes ~369 tonnes Net COâ Reduction ~331 tonnes/year Comparison b/w Briquettes and LPG from an Operational Perspective Criteria Briquettes LPG Emissions High PM, CO, smoke and ash Clean burning; negligible PM Compliance Risk High (Visible emissions) Low (Meets CPCB standards) Community Impact Negative (Smoke, particles) Positive (No visible emissions) Capex Higher (Fuel handling + storage) Lower (Compact skid-based units) Maintenance Frequency High Low Operational Ease Manual, labour-intensive Automated, easy to manage Hygiene Compromised due to ash/smoke High standards, no residue This transition marks more than a technological advancement-it is a model for scalable, CSR-led environmental innovation that improves operations, empowers communities, and enhances the well-being of school children. Together with BW LPG India, Akshaya Patra reaffirms its mission to serve nutritious meals while championing sustainability, community health, and national development goals.
Yahoo
31-03-2025
- Business
- Yahoo
BW LPG Signs MOA to Sell Two VLGCs to BW LPG India
SINGAPORE, March 31, 2025--(BUSINESS WIRE)--BW LPG Limited ("BW LPG", OSE ticker code: " NYSE ticker code "BWLP") has signed a Memorandum of Agreement (MOA) with BW LPG India to sell two vessels acquired in the recent Avance Gas transaction – BW Pampero and BW Chinook to BW LPG India (the 'transaction') at a price of approximately USD 75 million per vessel to ensure further expansion and fleet renewal in the Indian market. The delivery of the two vessels is expected in Q3 2025. BW LPG India currently owns and operates India's largest fleet of Very Large Gas Carriers (VLGCs), comprising seven ships, after the recently announced sale of BW Cedar. The transaction will renew and grow the fleet and further enlarge BW LPG India's footprint in India. Taking over two vessels built in 2015 will not only result in fleet expansion but also in fleet renewal which comes at an opportune time with continued growth in India's LPG demand. BW LPG India's fleet is Indian-flagged and Indian-operated to facilitate business transactions in alignment with the Atmanirbhar Bharat scheme (translated as self-reliant India). It is the youngest and largest fleet in India, accounting for import of approximately 20% of LPG into India. BW LPG India was established as a joint venture in 2017 between BW LPG Limited and Global United Shipping and is headquartered in Chennai. In 2021, Maas Capital Shipping B.V. acquired a minority stake of 42% in BW LPG India, with BW LPG currently holding 52% of the shares. Mr. Kristian Sørensen, CEO of BW LPG, adds: "With BW Pampero and BW Chinook we add modern quality tonnage and more capacity to our Indian-flagged fleet. We see tremendous potential in the country and are proud to participate in the continued growth of the Indian LPG market. We would like to thank our partners, Mass Capital and Global United Shipping, for their trust and collaboration, and for partaking in sustained fleet renewal." The transaction of BW Pampero and BW Chinook reflects BW LPG's strategy to right-size and renew its fleet in growing markets. BW LPG leverages on its strong commercial platform and continues to grow its Indian fleet to support the country's energy transition while weathering any geopolitical uncertainties. About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment. View source version on Contacts For further information, please contact: Kristian Sørensen Chief Executive Officer Samantha Xu Chief Financial Officer Sign in to access your portfolio
Associated Press
31-03-2025
- Business
- Associated Press
BW LPG Signs MOA to Sell Two VLGCs to BW LPG India
BW LPG Limited ('BW LPG', OSE ticker code: ' NYSE ticker code 'BWLP') has signed a Memorandum of Agreement (MOA) with BW LPG India to sell two vessels acquired in the recent Avance Gas transaction – BW Pampero and BW Chinook to BW LPG India (the 'transaction') at a price of approximately USD 75 million per vessel to ensure further expansion and fleet renewal in the Indian market. The delivery of the two vessels is expected in Q3 2025. BW LPG India currently owns and operates India's largest fleet of Very Large Gas Carriers (VLGCs), comprising seven ships, after the recently announced sale of BW Cedar. The transaction will renew and grow the fleet and further enlarge BW LPG India's footprint in India. Taking over two vessels built in 2015 will not only result in fleet expansion but also in fleet renewal which comes at an opportune time with continued growth in India's LPG demand. BW LPG India's fleet is Indian-flagged and Indian-operated to facilitate business transactions in alignment with the Atmanirbhar Bharat scheme (translated as self-reliant India). It is the youngest and largest fleet in India, accounting for import of approximately 20% of LPG into India. BW LPG India was established as a joint venture in 2017 between BW LPG Limited and Global United Shipping and is headquartered in Chennai. In 2021, Maas Capital Shipping B.V. acquired a minority stake of 42% in BW LPG India, with BW LPG currently holding 52% of the shares. Mr. Kristian Sørensen, CEO of BW LPG, adds: 'With BW Pampero and BW Chinook we add modern quality tonnage and more capacity to our Indian-flagged fleet. We see tremendous potential in the country and are proud to participate in the continued growth of the Indian LPG market. We would like to thank our partners, Mass Capital and Global United Shipping, for their trust and collaboration, and for partaking in sustained fleet renewal.' The transaction of BW Pampero and BW Chinook reflects BW LPG's strategy to right-size and renew its fleet in growing markets. BW LPG leverages on its strong commercial platform and continues to grow its Indian fleet to support the country's energy transition while weathering any geopolitical uncertainties. About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment. INDUSTRY KEYWORD: OIL/GAS ENERGY MARITIME LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT SOURCE: BW LPG Limited Copyright Business Wire 2025. PUB: 03/31/2025 01:10 AM/DISC: 03/31/2025 01:10 AM
