Singapore shipowner BW LPG’s Indian joint venture is claiming a first after meeting the study costs of female cadets.
BW Global United LPG India (BW LPG India), owned with EnTrust Global-backed Maas Capital, has signed a memorandum of understanding (MOU) with the Indian Maritime University (IMU) in Chennai to provide full scholarships.
Since 2021, the venture has provided these scholarships to women enrolled in the four-year BTech marine engineering or the three-year BSc nautical science degrees.
From this year, female cadets enrolled in the one-year diploma in nautical science will also be eligible, “offering an industry first of sponsorship which also includes full financial support”, the company said.
The schemes cover all academic fees and guarantees placement at Singapore’s Synergy Ship Management, the company’s vessel manager.
Usually, shipping companies do not cover fees as part of their scholarships.
The agreement was signed by IMU vice-chancellor Dr Malini V Shankar and Captain Gaurav Bhatia, managing director of BW LPG India.
During the signing ceremony, BW LPG India presented selected female cadets with their letters of offer. They are pursuing degrees in marine engineering.
Shankar said: “BW LPG India is a shipping company with a strong global presence, and it has given a great opportunity to the girl students of IMU and has set an example for the shipping industry to emulate.
“We hope that in future, BW LPG India will partner with us in various efforts under research verticals also. We hope our students who have been given offer letters today shall make IMU proud by becoming brand ambassadors for IMU in the shipping industry,” she added.
Bhatia explained that the agreement further strengthen the partnership with IMU.
Committed to collaboration
“IMU is an important and leading maritime university in India, and we are committed to a long and meaningful collaboration to advance our shared interests in nurturing future generations of seafarers,” he added.
Maas Capital completed a $50m investment in the venture in January last year, reducing BW LPG’s own stake to 67%.
In May, Maas Capital acquired more stock to cut this further to 52%.
The move reflected a shared confidence in the Indian LPG market, and belief in the long-term fundamentals of the business, BW LPG said.
BW LPG India controls eight VLGCs, making it the largest India-flagged operator.
