BW LPG India has secured a USD 215 million Term Loan Facility to refinance its existing debt and support the acquisition of two modern Very Large Gas Carriers, BW Chinook and BW Pampero, from BW LPG as previously announced.
BW LPG India currently owns and operates India’s largest fleet of VLGCs. Upon completion of this acquisition, it will own nine VLGCs.
The USD 215 million Term Loan was finalised with a significantly improved margin compared to the previous facility and received strong backing from five banking partners lending through their branches in Gujarat International Finance Tec‑City (GIFT), India, enabling overall financing cost reductions including benefits from withholding tax exemptions on interest payments.
BW LPG Limited has successfully closed two major financing packages: a USD 380 million Term Loan and Revolving Credit Facility and, in parallel, the USD 215 million Term Loan Facility specifically secured by its Indian subsidiary. The USD 380 million facility refinanced existing debt and funded the acquisition of vessels from Avance Gas completed in late 2024, enabling BW LPG to terminate a USD 250 million shareholder loan in June 2025 ahead of its expiry.
BW LPG India is a corporate subsidiary of BW LPG Limited, incorporated as a joint venture with Global United Shipping (minority stake) and Maas Capital Shipping (holding 42 percent). Headquartered in Chennai, it operates India‑flagged LPG shipping assets.
BW LPG Limited is a publicly listed company, and a global owner and operator of LPG shipping assets. It owns and operates over 50 VLGCs with total capacity exceeding 4 million CBM, and is affiliated with BW Group, a global maritime company founded in 1955 with a broader fleet of more than 450 vessels across various segments.