BW and Dorian tie-up is litmus test for consolidation
For the first time in the bulk shipping industry, a proposed merger looks set to command a 25% market share. BW’s offer to acquire Dorian will demonstrate whether a large company can command rate premiums and economies of scale
BW LPG has offered 2.05 BW LPG shares for each Dorian share in a deal with $1.1bn enterprise value. The merged entity will control 25% of the world’s VLGCs, according to Lloyd’s List estimates
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