BW Group and PAG to Form Joint Venture

Joint release from BW Group and PAG

BW Group and PAG have formed a joint venture called BW Pacific which is purchasing ten modern Medium Range product tankers from Elandra Pte Ltd, a company associated with Vitol Energy (Bermuda) Ltd.

Andreas Sohmen-Pao, CEO of BW Group commented: “BW is pleased to form a joint venture with one of Asia’s leading investment managers and to have PAG as a partner as we expand in the product tanker segment.”

Chris Gradel, Founder & Managing Partner of PAG commented: “PAG is delighted to have such a blue chip partner in shipping like the BW Group.  This is a very interesting time in the cycle for the industry and our joint venture with BW presents our investors with a unique opportunity to capture the potential upside in a recovery while relying on the operational excellence of a true industry leader.”

BW Pacific will have a fleet size of 37 Medium Range and Long Range 1 product tankers and will be managed by the BW Group.


The BW Group operates a fleet of 113 owned, part-owned or controlled vessels in the tanker, gas and offshore segments.

PAG (formerly known as Pacific Alliance Group) is one of the region’s largest Asia-focused investment managers with funds under management across Private Equity, Real Estate and Absolute Return strategies.


For further information, please contact

Lisa Lim
Senior Manager
BW Group, Communications and Branding
+65 6434 5871
+65 9654 9405
Stephanie Barry
Head of Communications,
PAG
+852 3719 3375