Wedoany.com Report on Feb 9th, BW LPG Ltd. recently announced that it has signed three-year time charter contracts for its two Very Large Gas Carriers (VLGCs), the BW Tucana and the BW Yushi. These charters are scheduled to commence in January 2026, raising the company's fixed-rate time charter coverage to approximately 35% of its fleet capacity. The projected average daily time charter equivalent (TCE) rate for 2026 is $43,500. As negotiations for the renewal of some existing charters are still ongoing, the related coverage level and rate may be adjusted prior to the release of the Q4 2025 financial results.

Kristian Sørensen, CEO of the company, stated: "We are pleased to secure two additional three-year time charters on solid terms, aligning with our strategic objective of increasing coverage to around 40% of our fleet capacity through time charters or forward freight agreements (FFAs). BW LPG is continuously strengthening its commercial platform to enhance earnings visibility and downside protection, while maintaining significant spot exposure in the expanding VLGC market."

As a company focused on liquefied petroleum gas (LPG) transportation, BW LPG operates a fleet of over 50 VLGCs, 22 of which are equipped with LPG dual-fuel propulsion technology. Leveraging over fifty years of industry experience, the company explores value chain investment opportunities through its in-house trading desk and expertise, thereby providing global clients with reliable LPG sourcing and delivery services.

BW LPG is part of the BW Group, whose businesses span shipping, floating infrastructure, and new energy technologies. The group owns and operates a fleet of over 450 vessels, including 200 LNG and LPG carriers, making it one of the world's leading VLGC fleet operators. In the renewable energy sector, the group also invests in areas such as solar and wind power.