Agreement to purchase interest in WOMAR Tanker Pools

Joint Press Release with WOMAR

Singapore, 25 February 2014

BW Group has today entered into an agreement with the shareholders of WOMAR to buy out the stake currently held by Heidmar Inc., for an undisclosed price. Hans van Der Zijde will continue as the CEO of WOMAR and Captain Uday Yellapurkar will remain the Chairman of the Board of WOMAR.

The transaction is expected to close by the end of March 2014.

WOMAR will continue to operate as an independent and neutral service provider.

About BW Group
BW Group is a leading global maritime group involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deepwater production. Through its predecessor companies, Bergesen and World-Wide Shipping, BW has been delivering energy and other vital commodities for more than 70 years. BW's fleet of 108 vessels includes crude oil supertankers, refined oil tankers, LNG and LPG carriers, and floating production storage and offloading (FPSO) units.

About WOMAR
WOMAR is a tanker pool operating company, specializing in oil and chemical tanker tonnage up to 30,000 DWT. WOMAR currently manages the Ganges, Yamuna, Marida and Han Gang Tanker pools for Product, Chemical, Vegetable oil and fuel oil trades. WOMAR currently controls a fleet of over 40 modern double hull tankers belonging to more than 10 different owners. WOMAR offers round-the-clock service to customers on a worldwide basis and operates out of Singapore, London and Mumbai offices. WOMAR’s main focus is to provide a 24/7 service based on reliable, efficient and high-quality operations in a fully transparent manner.

BW Maritime press release