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BW LPG Limited – Financial Results for Q2 2026
- BWLP
- BWLP
SINGAPORE, August 28, 2026–(BUSINESS WIRE)–BW LPG Limited (NYSE: BWLP) (OSE: BWLPG.OL):
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Q2 2026 profit attributable to equity holders of the Company was US$120 million, representing an earnings per share of US$0.79, contributed by a strong shipping performance.
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Q2 2026 TCE income – Shipping concluded at US$74,000 per available day and US$71,600 per calendar day, after IFRS 15 and FFA negative adjustments of US$16.4 million and US$12.0 million respectively. The earnings also reflect the Company’s robust time charter coverage of 53% of available days at US$64,000 per day, and good exposure to the strong spot market.
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BW Product Services generated a strong realised trading gain of US$127 million during the quarter. Reported trading results were a gross loss of US$18 million and a loss after tax of US$31 million, primarily due to a non-cash unrealised mark-to-market valuation change of negative US$145 million on open positions.
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For Q3, available fleet days are fixed at 92% at an average rate of ~US$88,000 per day, including fixed time charter coverage of 41% at US$44,300 per day. The TCE guidance excludes potential IFRS 15 and FFA impact.
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Supported by ample liquidity, the Company declared a Q2 2026 cash dividend of US$0.95 per share, which equals to 100% of Shipping NPAT for Q2 2026.
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Sale of 2007-built BW Elm and BW Birch, both second-hand sales at a value equivalent to a newbuilding price of ~US$248 million. On a 100% basis, the sales are expected to generate net book gains of approximately US$36 million for BW Elm and US$37 million for BW Birch, with net cash proceeds of approximately US$64 million for each vessel. BW Elm was delivered in July, and BW Birch is expected to be delivered by mid-November.
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Sale of the 2015-built BW Levant, acquired as part of the 2024 Avance Gas transaction. The sale is expected to generate a net book gain and net cash proceeds of approximately US$17 million and US$38 million respectively. BW Levant is scheduled for delivery by mid-November.
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2016-built LPG dual-fuel retrofit vessel fixed for five-year time charter out agreement in the mid-high US$40,000s per day with delivery end 2026.
BW LPG Limited (“BW LPG”, the “Company”, NYSE ticker code: “BWLP”, OSE ticker code: “BWLPG.OL”) reported a Q2 2026 Net Profit After Tax (NPAT) of US$138 million, yielding an annualised return on equity of 27%. The Q2 profit attributable to the equity holders of the Company was US$120 million, and earnings per share were US$0.79.
