BW LPG Limited secures three-year time charter-out contracts for two VLGCs

09 Feb 2026 07:00 CET

Singapore, 9 February 2026

BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE
ticker code: “BWLP”) is pleased to announce that it has entered into three-year
time charter-out contracts for two of its VLGCs, BW Tucana and BW Yushi. The
period charters commenced in January 2026, increasing the fixed-rate time
charter-out coverage to approximately 35% of the fleet capacity with an average
rate of about USD 43,500 per day for 2026. Due to ongoing negotiations regarding
the renewal of current time charters, the coverage level and average hire rates
are subject to change prior to the Q4 2025 earnings release.

Kristian Sørensen, Chief Executive Officer, commented: “We are pleased to have
secured two additional three-year time charters at solid levels, consistent with
our communicated strategy of increasing coverage to approximately 40% of our
fleet capacity through period charters and/or FFAs. BW LPG continues to
strengthen its commercial platform with improved earnings visibility and robust
downside protection while maintaining considerable spot exposure to a growing
VLGC market.”


For further information, please contact:

Kristian Sørensen
Chief Executive Officer

Samantha Xu
Chief Financial Officer

E-mail: investor.relations@bwlpg.com

 
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of
more than 50 Very Large Gas Carriers (VLGCs), including 22 vessels powered by
LPG dual-fuel propulsion technology. Building on over five decades of LPG
shipping experience, the company is strengthened by an in-house LPG trading
division and the commercial expertise to explore investments in value chain
assets. Together, these capabilities enable BW LPG to provide trusted and
reliable services for sourcing and delivering LPG to customers worldwide.
Delivering energy for a better world – more information about BW LPG can be
found at www.bwlpg.com

BW LPG is associated with BW Group, a leading global maritime company involved
in shipping, floating infrastructure, deepwater oil & gas production, and new
sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of
over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and
LPG ships constituting the largest gas fleet in the world. In the renewables
space, the group has investments in solar, wind, batteries, and water treatment.

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