BW Gas Ltd., the world’s biggest shipper of liquefied petroleum gas, idled four tankers because rates plunged so low that each vessel was losing the company about $25,000 a day. The Berge Racine will idle until the end of the year, when it will be given to new owners, Andreas Sohmen-Pao, chief executive officer of parent company BW Group, said by phone, confirming a note sent to clients.
News
about 16 years ago
World’s Biggest LPG Shipping Line Idles Four Vessels
BW Gas Ltd., the world’s biggest shipper of liquefied petroleum gas, idled four tankers because rates plunged so low that each vessel was losing the company about $25,000 a day. The Berge Racine will idle until the end of the year, when it will be given to new owners, Andreas Sohmen-Pao, chief execu
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