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BW LPG Ltd (BWLPG.OL)

BWLPG.OL on Oslo Stock Exchange

36.12NOK
23 Feb 2018
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Latest Key Developments (Source: Significant Developments)

BW LPG signs 5 years $150 mln term loan
Tuesday, 6 Feb 2018 02:23am EST 

Feb 6 (Reuters) - Bw Lpg Ltd ::BW LPG ANNOUNCES SIGNING OF USD150 MILLION TERM LOAN.‍HAS SIGNED A USD 150 MILLION 5-YEAR SENIOR SECURED TERM LOAN AGREEMENT TO REFINANCE ITS EXISTING USD150 MILLION REVOLVING CREDIT FACILITY MATURING IN MARCH 2018​.‍ALL-IN COST FOR THIS FINANCING IS LIBOR PLUS 1.7%, WITH AN 8-YEAR AMORTIZATION PROFILE​.‍WITH THIS NEW FACILITY IN PLACE, WE HAVE ENHANCED OUR FINANCIAL FLEXIBILITY AND CONTINUE TO KEEP OUR FINANCING COSTS LOW​.  Full Article

BW LPG's Q3 earnings in line, says Q4 freight rates are $31/t
Thursday, 23 Nov 2017 02:04am EST 

Nov 23 (Reuters) - BW LPG LTD :BW LPG LTD Q3 EBITDA $‍18.1​ MILLION (REUTERS POLL $17.7 MILLION).BW LPG LTD Q3 TCE REVENUE $ ‍70.1​ MILLION (REUTERS POLL $70.9 MILLION).BW LPG LTD SAYS ‍FREIGHT RATES HAVE CONTINUED RISING THROUGH Q4 AND CURRENTLY STAND AT US$31 PER TON, DRIVEN BY EMERGENCE OF WORKABLE ARBITRAGE ECONOMICS TO SHIP CARGOES TO ASIAN MARKETS AND STRONG INDIAN LPG DEMAND.OVER THE NEXT TWO YEARS, WE FORECAST THE VLGC FREIGHT MARKET TO FIND FUNDAMENTAL SUPPORT FROM ROUGHLY 3% NET FLEET GROWTH AND CONTINUED MID-SINGLE DIGIT DEMAND GROWTH PER YEAR‍​.  Full Article

BW LPG posts higher than expected Q2 EBITDA
Friday, 25 Aug 2017 02:06am EDT 

Aug 25 (Reuters) - BW LPG LTD :BW LPG LTD Q2 EBITDA $ 39.6 MILLION (REUTERS POLL $33.5 MILLION).BW LPG LTD Q2 TCE REVENUE $ 91.4 MILLION (REUTERS POLL $90.1 MILLION).BW LPG SAYS THE SHORT-TERM MARKET OUTLOOK REMAINS CHALLENGING AS LOW U.S. INVENTORY LEVELS WILL CONTINUE TO PROP UP DOMESTIC LPG PRICES UNTIL CONFIDENCE RETURNS THAT STOCKS HAVE BUILT SUFFICIENTLY.BW LPG SAYS THE LONG-TERM OUTLOOK FOR CONTINUED GROWTH IN U.S. LPG PRODUCTION AND EXPORTS IS STRONG, EVIDENCED BY THE RESUMPTION OF U.S. NGL INFRASTRUCTURE INVESTMENT.  Full Article

BW LPG announces establishment of joint venture in India
Friday, 28 Jul 2017 01:43pm EDT 

July 28 (Reuters) - BW LPG Ltd :Establishment of joint venture in India.Co, Global United Shipping India Private Limited, have agreed to establish joint venture in India in which parties will own 50 percent each.New joint venture is named BW Global United LPG India Private Limited.As part of deal, co to sell two of its vessels to new co and to that end BW LPG has entered into binding vessel sales contracts.  Full Article

BW LPG Q1 result beats forecast, cautious short term outlook
Monday, 29 May 2017 01:56am EDT 

May 29 (Reuters) - Bw Lpg Ltd :q1 tce revenue $94.7 million (Reuters poll $89 million).q1 ebitda $41.9 million (Reuters poll $30.5 million).q1 net result $8.0 million (Reuters poll $-11 million).short-term outlook remains cautious as we enter the summer months, with continued cargo tightness in the middle east, high U.S. domestic LPG prices and significant newbuilding deliveries for rest of year 2017.this will maintain downward pressure on rates.maintains view that renewed u.s. Lpg production is the key to reopening global price spreads and a more sustained rebound in freight.with the ngl content per barrel of oil on an upward trajectory in the major U.S. shale basins, we are led to believe that the growth of lpg production can potentially outpace the growth rate of crude oil on a comparative basis.  Full Article

BW LPG core earnings beat forecast; cautious near-term outlook
Monday, 27 Feb 2017 02:21am EST 

Bw Lpg Ltd : Q4 ebitda $35.5 million (Reuters poll $30 million) . Q4 TCE revenue $89.9 million (Reuters poll $81 million) . Says recommends no dividend (Reuters poll $0.09) . cautious on the near term market outlook due to the end of the winter demand period, substantial newbuilding deliveries in the first half of the year and the potential for further inventory drawdowns in the u.s. Keeping lpg prices elevated . the medium term fundamentals for vlgc trade are more positive .softening in u.s. Domestic lpg pricing as a result of renewed lpg production growth and a sharp drop off in newbuilding deliveries by late 2017 should allow for an improvement in freight rates in 2018 and beyond if more tonnage is not added.  Full Article

BW LPG core earnings beat forecast; cautious near-term outlook
Monday, 27 Feb 2017 02:21am EST 

Bw Lpg Ltd : Q4 ebitda $35.5 million (Reuters poll $30 million) . Q4 TCE revenue $89.9 million (Reuters poll $81 million) . Says recommends no dividend (Reuters poll $0.09) . cautious on the near term market outlook due to the end of the winter demand period, substantial newbuilding deliveries in the first half of the year and the potential for further inventory drawdowns in the u.s. Keeping lpg prices elevated . the medium term fundamentals for vlgc trade are more positive .softening in u.s. Domestic lpg pricing as a result of renewed lpg production growth and a sharp drop off in newbuilding deliveries by late 2017 should allow for an improvement in freight rates in 2018 and beyond if more tonnage is not added.  Full Article

BW LPG holds 92.7 pct of shares in Aurora LPG after bid expires
Tuesday, 6 Dec 2016 01:19am EST 

BW LPG Ltd : Upon expiry of offer period, BW LPG had received acceptances under offer for approximately 17,782,774 shares, corresponding to 59.92 percent of issued shares in Aurora LPG . BW LPG will, upon completion of offer, own approximately 27,513,428 shares, representing 92.71 percent of issued shares in Aurora LPG (96.06 percent excluding treasury shares) .Shareholders in Aurora LPG representing approximately 17,705,704 shares have chosen to receive their consideration partially in BW LPG shares.  Full Article

BW LPG Q2 above expectations, takes Q2 impairments of $76.4 mln in weak market
Thursday, 25 Aug 2016 03:30am EDT 

LPG shipper BW LPG Ltd : Q2 TCE revenue $99.4 million (Reuters poll $99.5 million) vs $154.7 mln in q2 2015 . VLGC TCE rates averaged US$28,100/day in Q2 2016 vs $46,600 in Q2 2015 . Q2 ebitda $52.3 million (Reuters poll $49.7 million) vs $105.8 mln in Q2 2015 . Q2 net loss $55.6 million (Reuters poll $20.9 million) vs profit of $80.7 mln in q2 2015 . Q2 ebitda $52.3 million (Reuters poll $49.7 million) . Takes q2 impairment on vessels of net loss $55.6 million (Reuters poll $20.9 million) . Takes q2 impairments usd 76.4 million ($20 mln related to Aurora LPG shares and $55.5 mln related to vessel values) . On average, market values for LPG vessels have fallen by about 20 pct since the beginning of the year . BW LPG ltd: there appears to be no seasonal upturn in rates this year, and we have thus adopted a more conservative view on the vlgc market and our coa contract coverage . Freight rates currently stand at their lowest level since 2009 as US propane prices have exceeded Asian LPG prices by 50 pct in 2016, and the VLGC fleet has grown by 34 pst since Q2 2015 . 37 vessels have been delivered so far this year, with another 9 set to enter the fleet in the remainder of 2016 and 25 in 2017 . Bw LPG ltd says has strong balance sheet, is positioned to perform through the cycle and take advantage of the current downturn.  Full Article

BW LPG Q1 results as expected
Friday, 20 May 2016 03:01am EDT 

BW LPG Ltd says: Q1 TCE revenue $136.8 million (Reuters poll $135 million) vs $131 mln in Q1 2015 . Q1 EBITDA $88.9 mln (RTRS poll $85.9 mln) vs $80 mln in Q1 2015 . Q1 net profit $ 59.9 million (Reuters poll $58.2 million) vs $57 mln in Q1 2015 . VLGC Q1 2016 Daily TCE – $38,600 . LGC Q1 2016 Daily TCE – $31,400 . Current 2016 Contract Coverage of 43% - 53%, depending on COA (contracts of agreements) uptake . BW LPG ltd says expects new ordering of VLGC to remain subdued in 2016 due to lower freight rates and tighter credit availability . Freight rates were adversely impacted in the quarter by narrower geographic LPG price spreads, strong fleet growth and increased availability of in-chartered tonnage in the spot market . Stabilization of oil prices & more subdued fleet growth will pave the clearest path to a market recovery . LGC (large gas carriers) market deteriorated rapidly quarter on quarter due to narrowing of product price spreads . BW LPG Ltd says expects continued strong retail demand growth for cooking and heating applications in developing markets . Says The newbuild program is on budget Further company coverage: [BWLPG.OL] (Reporting By Ole Petter Skonnord) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

BW LPG sees better market sentiment for 2018 vs 2017

OSLO, Nov 23 Natural gas shipper BW LPG expects a better freight market in 2018 than in 2017 and will not make any new long term contracts below $20,000 per day for its very large gas carriers (VLGC), CEO Martin Ackerman said on Thursday.