BW LPG Ltd, the Bermudian-incorporated liquefied petroleum gas shipper, is a step closer to moving its place of incorporation to Singapore. The company has been registered in Bermuda since 2008.

BW LPG is to petition the Supreme Court of Bermuda to sanction a scheme of arrangement, which was approved by the company’s shareholders at a meeting, that would discontinue the company in Bermuda and move it to Singapore.

That court hearing is due to take place tomorrow morning.

If the scheme is sanctioned by the court, it will become binding on the company and its shareholders once a copy of the court order is filed with the Registrar of Companies in Bermuda.

The company said it expects that the re-domiciliation will come into effect on or around July 1, subject to the sanction by the court, the filing of the court order, the final approval by the Singapore Accounting and Corporate Regulatory Authority and the satisfaction or waiver of all conditions to the scheme.

BW LPG is associated with BW Group, a global maritime company involved in shipping, floating infrastructure, deep-water oil and gas production, and new sustainable technologies.

Founded in 1955 by Sir YK Pao, BW controls a fleet of more than 490 vessels transporting oil, gas and dry commodities, with its 200 liquefied natural gas and LPG ships constituting the largest gas fleet in the world.