Making a big splash in maritime
Having weathered turbulence, BW Group boasts owning and operating a modern fleet of 110 offshore oil & gas vessels, reports LISA LEE
IF the word nimble could be used to describe any shipping group, it would probably be most apt for one of the world's leading global maritime outfit, BW Group Ltd.
Having weathered many shipping cycles typified by volatile rates and turbulent economics, the group has evolved from its bulk and tanker shipping heritage in the 1950s-mid-1980s into a diversified oil and gas maritime enterprise of today.
"We had over a period of 18 months expanded significantly," says BW Group's CEO Andreas Sohmen-Pao in a recent interview with The Business Times at it's Singapore office. "We bought almost every modern second-hand very large gas carrier (VLGC) that came on to the market in the period up to 2013. Then last year we bought the entire VLGC fleet of AP Moller Maersk, and we also embarked on a newbuilding programme for new ships."
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