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BW LPG Ltd (BWLPG.OL)

BWLPG.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BW LPG Signs $458 Mln Senior Secured Term Loan And Revolving Credit Facility Agreement
Wednesday, 22 May 2019 04:52am EDT 

May 22 (Reuters) - BW LPG Ltd ::BW LPG ANNOUNCES SIGNING OF USD458MM TERM LOAN AND REVOLVING CREDIT.BW LPG ANNOUNCES SIGNING OF USD458MM TERM LOAN AND REVOLVING CREDIT.HAS SIGNED 7-YEAR $458 MILLION SENIOR SECURED TERM LOAN AND REVOLVING CREDIT FACILITY AGREEMENT TO REFINANCE ITS EXISTING $800 MILLION FACILITY MATURING IN NOVEMBER 2020.ALL-IN COST FOR THIS FINANCING IS LIBOR PLUS 1.8%, WITH AN 11-YEAR AMORTIZATION PROFILE.  Full Article

BW LPG Q1 EBITDA Down At USD 20.7 Million
Thursday, 16 May 2019 01:59am EDT 

May 16 (Reuters) - BW LPG Ltd ::Q1 EBITDA USD 20.7 MILLION VERSUS USD 25.3 MILLION YEAR AGO.Q1 LOSS AFTER TAX USD 24 MILLION VERSUS LOSS USD 8 MILLION YEAR AGO.Q1 TCE INCOME USD 60.2 MILLION VERSUS USD 73.3 MILLION YEAR AGO.IN SHORT TERM SEES CONTINUED HIGH US LPG EXPORTS TO SUPPORT THE IMPROVING RATES.REVISED VIEW ON MIDDLE EASTERN EXPORTS DOWN DUE TO SANCTIONS ON IRAN, ALTHOUGH SEES IMPACT TO BE PARTIALLY OFFSET BY REGIONAL INCREMENTAL VOLUMES AND INCREASED EXPORTS FROM OTHER MAJOR EXPORTERS.EXPECTS INCREASED DEMAND FOR VLGC’S FROM GROWING US EXPORTS WILL BE PARTLY OFFSET BY NEWBUILD DELIVERIES.  Full Article

BW LPG Q3 net loss shrinks to $2.8 mln, cautiously optimistic for 2019
Wednesday, 21 Nov 2018 05:34am EST 

Nov 21 (Reuters) - BW LPG Ltd ::BW LPG LTD Q3 EBITDA $35.0 MILLION VERSUS $18.1 MILLION.BW LPG LTD Q3 NET LOSS $2.8 MILLION VERSUS LOSS $26.7.IMPROVEMENT MAINLY DUE TO THE RECOVERY IN LPG SPOT EARNINGS, HIGHER FLEET UTILISATION AND LOWER OPERATING EXPENSES ARISING FROM A SMALLER FLEET SIZE.BW LPG SAYS WE REMAIN CAUTIOUSLY OPTIMISTIC FOR THE FULL YEAR 2019 DUE TO SUSTAINED U.S. LPG PRODUCTION GROWTH AND INCREMENTAL EXPORT VOLUMES BEING ADDED FROM OTHER KEY LOADING AREAS SUCH AS AUSTRALIA AND U.S. EAST COAST.BW LPG SAYS CONTRACT COVERAGE IS 15% FOR Q4 2018 AND 8% FOR 2019.BW LPG SAYS WE HAVE A NEUTRAL VIEW ON MIDDLE EAST EXPORTS AS INCREMENTAL REGIONAL GROWTH IS EXPECTED TO COMPENSATE FOR THE EFFECTS FROM THE RE-IMPOSED SANCTIONS ON IRAN.BW LPG SAYS LOOKING INTO 2019 WE EXPECT FRONT END LOADED NEWBUILD DELIVERIES TO COINCIDE WITH THE NORMAL SEASONAL WEAKNESS, WHICH MAY IMPOSE PRESSURE ON THE GEOGRAPHICAL LPG PRICE SPREADS.BW LPG SAYS LONGER TERM WE MAINTAIN OUR VIEW THAT SUSTAINED U.S. LPG PRODUCTION GROWTH AND NO FURTHER NEW BUILD ORDERS REMAIN KEY TO BALANCING THE VLGC MARKET.  Full Article

Dorian Lpg Responds To BW's Withdrawal Of Proposal To Acquire Dorian
Monday, 8 Oct 2018 11:35am EDT 

Oct 8 (Reuters) - Dorian LPG Ltd ::DORIAN LPG RESPONDS TO BW'S WITHDRAWAL OF PROPOSAL TO ACQUIRE DORIAN.DORIAN LPG LTD SAYS EXTENSIVELY ENGAGED WITH BW LPG TEAM OVER PAST FEW MONTHS.DORIAN LPG - BW LPG'S PROPOSAL "UNDERVALUED" CO ON A RELATIVE NET ASSET VALUE BASIS.DORIAN LPG LTD - BW LPG "REFUSED" TO CONSIDER IMPROVING ITS PROPOSAL.  Full Article

Dorian LPG Senior Management Met With Members Of BW LPG's Management
Friday, 21 Sep 2018 06:33am EDT 

Sept 21 (Reuters) - BW LPG Ltd ::DORIAN LPG LTD - ON SEPTEMBER 20, CO'S SENIOR MANAGEMENT MET WITH MEMBERS OF BW LPG'S MANAGEMENT TEAM.DORIAN LPG LTD - CONTINUES TO EVALUATE BW LPG'S PROPOSAL AND OTHER ALTERNATIVES - SEC FILING.DORIAN LPG LTD - DORIAN'S TEAM GAVE FEEDBACK ON INFORMATION BW HAD PROVIDED DORIAN AND ASKED QUESTIONS ABOUT BW'S BUSINESS AND PROPOSAL.  Full Article

Dorian LPG Ltd. Announces Financing Transactions And Full Repayment Of Bridge Loan Facility
Tuesday, 26 Jun 2018 06:01pm EDT 

June 26 (Reuters) - Dorian LPG Ltd ::DORIAN LPG LTD. ANNOUNCES FINANCING TRANSACTIONS AND FULL REPAYMENT OF BRIDGE LOAN FACILITY.DORIAN LPG SAYS "HAVE RECEIVED" BW LPG LTD'S LETTER RESTATING ITS UNSOLICITED PROPOSAL TO COMBINE WITH CO IN A STOCK-FOR-STOCK TRANSACTION.  Full Article

Dorian LPG Board Declines Bw Lpg's Unsolicited Proposal
Friday, 15 Jun 2018 08:44am EDT 

June 15 (Reuters) - BW LPG Ltd ::DORIAN LPG BOARD DECLINES BW LPG'S UNSOLICITED PROPOSAL.DORIAN LPG LTD - BW LPG'S PROPOSAL "UNDERVALUES" DORIAN ON BOTH AN ABSOLUTE- AND RELATIVE-VALUE BASIS.DORIAN LPG - BOARD UNANIMOUSLY CONCLUDED THAT UNSOLICITED, PROPOSAL FROM BW LPG LTD IS NOT IN BEST INTERESTS OF DORIAN AND ITS SHAREHOLDERS.DORIAN LPG LTD - "DORIAN SHAREHOLDERS SHOULD NOT BE ASKED TO SUBSIDIZE BW LPG'S FLEET RENEWAL, UPGRADE, AND REGULATORY COMPLIANCE COSTS".DORIAN LPG LTD - IN LETTER TO BW LPG CHAIRMAN SAYS "A DUAL LISTING IS NOT A BENEFIT TO DORIAN SHAREHOLDERS".DORIAN LPG LTD - CO'S BOARD IS WILLING TO DISCUSS ACQUIRING OR CONSOLIDATING SOME OR ALL OF BW LPG'S 17 ECO-SHIPS INTO CO'S COMMERCIAL PLATFORM.  Full Article

BW LPG plans $15 mln share buyback
Tuesday, 6 Mar 2018 01:48am EST 

March 6 (Reuters) - BW LPG Ltd ::‍TO INITIATE A SHARE BUY-BACK PROGRAMME, UNDER WHICH IT WILL PURCHASE UP TO US$15 MILLION (APPROXIMATELY NOK 117 MILLION, SUBJECT TO FOREIGN EXCHANGE RATES) OF ITS COMMON SHARES​.‍BUY-BACK PROGRAMME WILL COMPRISE UP TO 4 MILLION COMMON SHARES, REPRESENTING UP TO 2.8% OF COMPANY'S ISSUED SHARE CAPITAL​.‍SHARE BUY-BACK PROGRAMME WILL COMMENCE ON 7 MARCH 2018 AND WILL CONTINUE UNTIL AND INCLUDING 30 APRIL 2018. SHARES PURCHASED WILL BE HELD AS TREASURY STOCK​.  Full Article

BW LPG expects 2 pct net fleet growth in 2018, Q4 lags
Wednesday, 28 Feb 2018 02:11am EST 

Feb 28 (Reuters) - Bw Lpg Ltd ::Q4 EBITDA $ ‍25.9​ MILLION (REUTERS POLL $28.7 MILLION).Q4 NET RESULT $ ‍-19.0​ MILLION (REUTERS POLL $-14.6 MILLION).Q4 TCE REVENUE $ ‍79.3​ MILLION (REUTERS POLL $81.3 MILLION).FREIGHT RATES REMAIN AT LOW LEVELS, WITH RECOVERY BEING DEPENDENT ON INCREASING U.S. LPG PRODUCTION, CONTINUED DEMAND FROM ASIA (ESPECIALLY INDIA AND CHINA) AND GEOGRAPHIC LPG PRICE SPREADS‍​.THE VLGC FREIGHT RATE MARKET HAS SEEN NEWBUILD ORDERS IN EARLY 2018 THOUGH THIS IS EXPECTED TO BE PARTIALLY OFFSET BY SEVERAL SHIPS HEADED FOR SCRAP OVER THE NEXT TWO YEARS.2018 NET FLEET GROWTH, ON AVERAGE, IS EXPECTED TO BE ROUGHLY 2 PCT‍​.2018 CONTRACT COVERAGE IS 14 PCT‍​.  Full Article

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