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BW LPG Ltd (BWLPG.OL)

BWLPG.OL on Oslo Stock Exchange

35.30NOK
13 Dec 2017
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Latest Key Developments (Source: Significant Developments)

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's CFO bought 5,000 shares
Monday, 19 Jun 2017 12:01am EDT 

June 19 (Reuters) - Bw Lpg Ltd :Elaine Ong, Chief Financial Officer, has purchased 5,000 shares in BW LPG on 16 june 2017 at a price of nok 27.00 per share.Following this transaction, Ms Ong holds 9,985 shares in BW LPG limited.  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 Ltd signs charter deals for three vessels
Wednesday, 27 Apr 2016 04:35am EDT 

BW LPG Ltd:Announces a sale and leaseback arrangement and two timecharter-in agreements.Says has concluded a sale and leaseback agreement with Nissen Kaiun Co. Ltd. for its last VLGC newbuilding under construction at Daewoo Shipbuilding and Marine Engineering.Concurrently BW LPG has also agreed to timecharter-in two vlgc newbuildings to be constructed at Mitsubishi Heavy Industries from Nissen Kaiun Co. Ltd, with deliveries expected in 2020.All three timecharter-in agreements include purchase options.  Full Article

BW LPG announces financing program for four VLGC newbuildings
Wednesday, 20 Apr 2016 02:30am EDT 

BW LPG Ltd:Announces financing program for four VLGC newbuildings and takes delivery of BW Tucana.Has signed a debt facility agreement of $221 million for financing of four of its VLGC newbuildings.Financing has been raised from ING Bank, KFW IPEX-Bank GmbH, Oversea-Chinese Banking Corporation Limited (OCBC) and Standard Chartered Bank, as Mandated Lead Arrangers.Has also taken delivery of BW Tucana, seventh Very Large Gas Carrier (VLGC) in its newbuilding programme of eight VLGCs from Hyundai Heavy Industries.  Full Article

BW LPG Ltd proposes a dividend for FY 2015
Friday, 26 Feb 2016 02:23am EST 

BW LPG Ltd:Proposes cash dividend of $0.68 per share for the fortcoming general meeting‍​.  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.