BW Maritime

Beyond 2010: Expansion

Despite the financial crisis in 2008, and the challenging years that followed, BW Group’s expansion continued apace.

In 2010, BW formed a joint venture with Marubeni on BW's fleet of LNG carriers on charter to NLNG.

In 2013, BW LPG acquired the entire VLGC fleet of Maersk Tankers.

In 2014, BW Group acquired 50% of the chemical tanker pool WOMAR, and subsequently acquired the chemical tanker fleet of Stream Tankers. In the same year, BW purchased the product tanker fleets of Vitol and Metrostar respectively, forming a joint venture called BW Pacific (later renamed BW Tankers) with private equity firm PAG. Shortly after, BW also formed a joint venture with Pavilion Energy for maritime LNG assets, including LNG carriers.

In 2015 and 2016, BW invested in LNG floating storage and regasification units (FSRUs) which were subsequently installed in Egypt and Pakistan. Further units were ordered for future projects including in Brazil. BW also returned to the dry bulk sector with investments in a series of second hand vessels, later followed with newbuildings. In the LPG sector, BW acquired Aurora, a fleet of Very Large Gas Carriers. 

In 2017, BW Group injected its VLCC fleet into the listed supertanker player DHT and became the major shareholder with a 34% stake.  

In 2018, BW acquired a controlling stake in Hafnia, a major player in the product tanker space based in Denmark. BW Offshore commenced oil production in Gabon.  

A long and successful partnership with HSBC was concluded in October 2018, when Sohmen family interests acquired the 6.75% stake held by HSBC in BW Group.

The BW Group now comprises holdings in BW LPG, BW Offshore, BW Tankers, Hafnia, BW LNG, DHT, BW Chemical Tankers, BW Energy and BW Dry Cargo, with a managed fleet of over 300 vessels.