Oslo-listed BW LPG picked off the four newbuildings at DSME for $290m late last week.
Initial reaction to the deal was positive with Pareto Securities branding the figure incredibly low.
DNB Markets today said the deal was more positive than first impressions suggested.
“We understand the reason for the attractive price was that the original owner, China Peace, was in breach with yard payments, and that BW LPG went straight to the yard to secure the purchase,” its analysts said in a report today.
