Singapore's BW LPG is moving into LPG trading to boost vessel utilisation.
It has set up a product services division to support its core shipping business.
The move is part of its ambition to "propose a low-risk and fully-integrated product delivery service to customers."
The shipowner will buy LPG and deliver it on a CIF basis to the end user.
"Through this new division, BW LPG aims to maximise utilisation of its vessels by sometimes providing full LPG delivery service, including product, while remaining focused primarily on shipping services.
A BW LPG spokesperson told TradeWinds: "We believe we are a pioneer in this move by an LPG shipowner and operator to the product side of the business.
"The product services division is ready to support our customers. Our focus is not on volume, but on the maximising the utilisation of our vessels by providing full LPG delivery service, including products."
When asked about staff recruitment for the new operations, the spokesperson said: "We are always open to new talent to join BW LPG, and welcome applications through our website."
CEO Martin Ackermann added: “The new product services division reflects BW LPG’s ambitions to provide existing and new customers with reliable, integrated LPG delivery services.
"Whilst LPG shipping remains our core business, we aim to diversify our business offerings, innovate to capture market opportunities, and maximise value for both customers and shareholders."
BW LPG is the world's leading owner and operator of LPG vessels, with capacity of more than 4m cbm.
Earlier this year the company confirmed that it had sold the 57,000-cbm BW Helios (built 1992) for demolition in India.
Brokers said the 59,000-cbm BW Nantes (built 2003) was also being circulated in the market, according to brokers.
But Ackermann insisted the vessel was not for sale and is “on firm employment”.
