BW LPG (BWLPG) 🚢

TekBot januar 25, 2024, 7:17am #243

Update on BW LPG’s Product Services Q4 2023 Segment Performance

(25 January 2024)

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) today provides an update on its Product Services’ (“BW Product Services”) Q4 2023 segment performance. For the quarter ended 31 December 2023, BW Product Services reported an estimated gross profit of approximately USD 32 million. Gross profit represents the realised trading profit plus net derivative gains and losses from open cargo contracts and hedging transactions.
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After general and administrative expenses and income taxes, BW Product Services made an estimated net profit of approximately USD 27 million for the quarter, before any bonus provision.

The average Value-At-Risk (VAR) for the quarter was approximately USD 8 million.

BW LPG will release its Q4 2023 financial report on 29 February 2024.

For further information, please contact:

Kristian Sørensen
Chief Executive Officer
E-mail: kristian.sorensen@bwlpg.com

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

This information is subject to the disclosure requirements pursuant to Article 19 of the EU Market Abuse Regulation and Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot februar 14, 2024, 4:44am #244

Financial calendar

TekBot februar 15, 2024, 2:06am #245

BW LPG Limited – Results of Special General Meeting

(15 February 2024)

The Special General Meeting 2024 (the “SGM”) of BW LPG Limited (the “Company”) was held on 14 February 2024. All proposed resolutions were resolved. Please see the attached document for the minutes of the meeting.
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The SGM has elected Mr. Sanjiv Misra as a new member of the Company’s board of directors. Mr. Misra is currently Chairman and Non-Executive Director of several companies and Boards. Mr. Misra began his investment banking career with Goldman Sachs & Co in 1986 and joined Citigroup in 1997; and he has held leadership positions in both organisations over the years. Mr. Misra’s bio is available at the following link: https://tinyurl.com/BWLPG-Sanjiv-Misra.

Chairman of the board of directors, Mr. Andreas Sohmen-Pao, says: “We welcome Mr. Misra as a director, and look forward to his contributions to the board based on his decades of experience in investment banking, markets, and business leadership.”

For further information, please contact:

Samantha Xu
Chief Financial Officer
Tel: +65 6705 5506
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot februar 15, 2024, 6:01am #246

BW LPG’S Q4 2023 Financial Report Release and Earnings Presentation on 29 February 2024

(15 February 2024)

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) will release its Fourth Quarter Financial Report at approximately 07:00hrs CET on 29 February 2024.
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In connection with this release, BW LPG will hold an Earnings Presentation with Kristian Sørensen (CEO) and Samantha Xu (CFO). The details are as follows:

Date: Thursday, 29 February 2024

Location and Time:
Oslo, Norway (13:00hrs CET/ UTC + 1 hours)
New York, USA (07:00hrs EST/ UTC - 5 hours)
Singapore, Singapore (20:00hrs SGT/ UTC + 8 hours)

The Earnings Presentation will be held live via Zoom. Please register in advance at the link below:

https://tinyurl.com/BWLPGQ42023EP

A confirmation email will be sent, with information on how to join the Zoom meeting. A recording of the presentation will also be available after the event on the Company’s website at: https://www.bwlpg.com/investors.

For further information, please contact:

Kristian Sørensen, CEO
E-mail: kristian.sorensen@bwlpg.com

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot februar 19, 2024, 7:21am #247

BW LPG Concludes USD 30 Million Investment in Confidence Petroleum

(19 February 2024)

With reference to the press release dated 30 November 2023, BW LPG Limited (“BW LPG”, the “Company”, OSE Code: “BWLPG.OL”) is pleased to announce that it has completed the transaction to invest approximately USD 30 million in Confidence Petroleum India Limited (“Confidence”, NSE Code: “CONFIPET”, BSE Code: “526829”) through a preferential allotment of equity shares. These shares constitute 8.5 percent of the issued and paid-up share capital of Confidence on a fully diluted basis.
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The investment will support Confidence as it expands its capacity in LPG downstream assets. Confidence currently has over 60 LPG bottling plants and over 200 auto LPG dispensing stations across India, and it envisions substantial future growth.

Says Kristian Sørensen, CEO of BW LPG, “Our investment in Confidence reflects our belief in the potential of the Indian LPG market as well as our JV partner. Their deep experience in LPG cylinder manufacturing, bottling and end-user distribution naturally complements our heritage in LPG shipping and trading. We look forward to mutually beneficial growth in the years ahead.”

For further information, please contact:

Kristian Sørensen
CEO
E-mail: kristian.sorensen@bwlpg.com

Samantha Xu
CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

Kilde

TekBot februar 29, 2024, 6:06am #248

Key Information Relating to the Cash Dividend for Q4 2023

(29 February 2024)

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) provides the following key information relating to its cash dividend for Q4 2023.
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Dividend amount: USD 0.90 or NOK 9.478 per share
Last day the stock is trading including the right to receive this dividend: 4 March 2024
Ex-date: 5 March 2024
Dividend payment date: 22 March 2024
Date of approval: 28 February 2024
Record date: 6 March 2024

For further information, please contact:

Samantha Xu, CFO
Tel: +65 6705 5588
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot februar 29, 2024, 6:06am #249

BW LPG’s Financial Results for Q4 2023

(29 February 2024)

Highlights and Subsequent Events
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Strongest quarterly performance on record with daily TCE of USD 75,000 per calendar day and USD 76,000 per available day.

Generated NPAT of USD 162 million or earnings per share of USD 1.14. Declared a Q4 cash dividend of USD 0.90 per share which represents a 98% full year earnings payout ratio and an annualised dividend yield of 28%.

Product Services generated a net accounting profit of USD 18 million in Q4 after adjusting for G&A and tax provisions from the earlier announced USD 27 million quarterly profit. It has also scheduled a share capital reduction of USD 30 million in Q2 2024.

Took delivery of one VLGC and welcomed one VLGC to the pool in Q4. Entered into an agreement to sell one VLGC in Q4, with estimated delivery in Q1 2024.

BW LPG signed joint venture agreements to invest in infrastructure project in India; and completed USD 30 million share subscription of Confidence Petroleum for 8.5% ownership.

The announced US listing, now decided to be on New York Stock Exchange (NYSE), is on schedule and expected to be in Q2 2024. [1]

Financial Performance

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) reported a Q4 2023 Net Profit After Tax (NPAT) of USD 162 million, yielding an annualised return on equity of 42% with USD 128 million free cash flow generated. The Q4 EBITDA was USD 195 million, and earnings per share was USD 1.14.

The net leverage ratio remained low at 21% in Q4 with available liquidity at USD 457 million at the end of the quarter. On the back of the Company’s strongest quarter on record, the Board has declared a cash dividend of USD 0.90 per share, or a total dividend of USD 118 million. This represents an 98% earnings payout ratio for 2023 and an annualised dividend yield of 28%.

Product Services generated a net accounting profit of USD 18 million in Q4 after adjusting for G&A and tax provisions from the earlier announced USD 27 million quarterly profit. It has also scheduled a share capital reduction of USD 30 million in Q2 2024.

Commercial Performance

Shipping – Q4 VLGC freight rates averaged USD 75,000 per calendar day or USD 76,000 per available day, with 97% fleet utilisation. Time Charter Equivalent (TCE) income was USD 235 million for the quarter, and our India subsidiary contributed a stable TCE income of USD 35 million for Q4.

BW LPG took delivery of BW Kyoto (2010-built MHI Nagasaki Shipyard, Japan) in Q4. The vessel will be on a six-year time charter from Q1 2024 and will secure a ROCE of ~18% over the said period. BW LPG entered into an agreement to sell BW Princess (2008-built, Hyundai Heavy Industries, Korea) in Q4, with estimated delivery in Q1 2024. The sale will generate approximately USD 64 million in liquidity and a net book gain of about USD 20 million. Lastly, the BW LPG pool welcomed one dual-fuel VLGC (Gas Venus) from Sinogas in Q4.

Product Services – Product Services reported a USD 32 million gross profit for Q4, including a depreciation of USD 17 million due to five time charter-in vessels recorded as right-of-use assets. After taking into account other expenses, comprising mainly of G&A and income tax expenses, Product Services reported a net profit after tax of USD 18 million for the quarter.

Infrastructure – BW LPG completed the transaction to invest USD 30 million in Confidence Petroleum India Limited (“Confidence”) through a preferential allotment of equity shares in Q1 2024. The shares constitute 8.5% of the issued and paid-up share capital of Confidence on a fully diluted basis.

BW LPG also established a 50/50 joint venture (JV) with Confidence in Q4, named “BW Confidence”. BW Confidence signed an agreement with Ganesh Benzoplast to jointly develop and operate a new LPG onshore import terminal at Jawaharlal Nehru Port Association Port (JNPT) in Navi Mumbai, India.

Corporate Update

Preparatory work towards a dual listing of BW LPG shares in the US on the New York Stock Exchange (NYSE) is progressing as planned, with the listing expected in Q2 2024.

Market Outlook

Spot rates corrected down sharply in January 2024 due to cold weather increasing US LPG prices and thereby reducing exports. Rates have since recovered in February on the back of normalised temperatures leading to high US exports, in addition to an active lifting program in the Middle East. Our view is that the underlying fundamentals remain sound, and we reiterate our positive view for 2024, although we expect high volatility. Key underlying drivers include:

High oil price leading to increased oil and gas production conducive to continued strong export growth from the US and steady growth from the Middle East;

Newbuilding deliveries abate after Q1 2024 while 13 ships scheduled for delivery in 2025;

Unpredictable Panama Canal situation; and

Forward Freight Agreements price indicating a positive second half of 2024.

Q4 2023 Earnings Presentation and Interim Financial Report

Please see the attachments for the Q4 2023 Earnings Presentation and Interim Financial Report.

BW LPG Q4 2023 Earnings Presentation
BW LPG Q4 2023 Interim Financial Report

BW LPG will present the financial results at 13:00hrs CET today. The presentation will be hosted by Kristian Sørensen (CEO) and Samantha Xu (CFO).

The presentation will be held live via Zoom. Please register in advance at the link below:

https://tinyurl.com/BWLPGQ42023EP

A presentation recording will also be available after the event on the Company’s website at: https://www.bwlpg.com/investors.

For further information, please contact:

Kristian Sørensen, CEO
E-mail: Kristian.sorensen@bwlpg.com

Samantha Xu, CFO
E-mail: Samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

[1] This does not constitute an offer to sell or the solicitation of an offer to buy any securities of BW LPG nor shall there be any sale of any securities of BW LPG in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Kilde

TekBot februar 29, 2024, 6:08am #250

BW LPG Management Share Option Plan “LTIP 2022” – Award of Share Options

29 February 2024

The Board of Directors of BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) has approved the award of share options to senior management and certain employees of the Company.
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This is the third annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link: BW LPG Management Share Option Plan – Award of Share Options

The total number of options that will be awarded in 2024 is 631,963. The options are awarded in connection with the publication of the quarterly report for Q4 2023.

The following primary insiders of the Company have been awarded options under LTIP 2022, as further described below and in the attached forms.

Kristian Sorensen, Chief Executive Officer
Options granted in prior years: 220,647
Options granted in 2024: 220,647
Total options held: 441,294
Shares held: 5,000

Samantha Xu, Chief Financial Officer
Options granted in 2024: 85,000
Total options held: 85,000
Shares held: 0

Prodyut Banerjee, Vice President and Head of Operations
Options granted in prior years: 75,652
Options granted in 2024: 50,812
Total options held: 126,464
Shares held: 0

Knut-Helge Knutsen, Vice President and Head of Technical
Options granted in prior years: 75,652
Options granted in 2024: 50,812
Total options held: 126,464
Shares held: 0

Iver Baatvik, Vice President and Head of Corporate Development
Options granted in prior years: 49,680
Options granted in 2024: 50,812
Total options held: 100,492
Shares held: 0

For further information, please contact:

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.

Kilde

TekBot februar 29, 2024, 9:10am #251

BW LPG Management Share Option Plan “LTIP 2022” – Award of Share Options

29 February 2024

The Board of Directors of BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) has approved the award of share options to senior management and certain employees of the Company.
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This is the third annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link: BW LPG Management Share Option Plan – Award of Share Options

The total number of options that will be awarded in 2024 is 631,963. The options are awarded in connection with the publication of the quarterly report for Q4 2023.

The following primary insiders of the Company have been awarded options under LTIP 2022, as further described below and in the attached forms.

Kristian Sorensen, Chief Executive Officer
Options granted in prior years: 220,647
Options granted in 2024: 220,647
Total options held: 441,294
Shares held: 5,000

Samantha Xu, Chief Financial Officer
Options granted in 2024: 85,000
Total options held: 85,000
Shares held: 0

Prodyut Banerjee, Vice President and Head of Operations
Options granted in prior years: 75,652
Options granted in 2024: 50,812
Total options held: 126,464
Shares held: 0

Knut-Helge Knutsen, Vice President and Head of Technical
Options granted in prior years: 75,652
Options granted in 2024: 50,812
Total options held: 126,464
Shares held: 0

Iver Baatvik, Vice President and Head of Corporate Development
Options granted in prior years: 49,680
Options granted in 2024: 50,812
Total options held: 100,492
Shares held: 0

For further information, please contact:

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.

Kilde

TekBot mars 5, 2024, 6:00am #252

BW LPG Limited Ex Dividend USD 0.90 Today

(5 March 2024)

With reference to the press release dated 29 February 2023 on Key Information Relating to the Cash Dividend for Q4 2023, the shares of BW LPG Limited will be traded ex-dividend from today.
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For further information, please contact:

Samantha Xu, CFO
Tel: +65 6705 5588
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot mars 6, 2024, 3:36am #253

Management Share Option Plan “LTIP 2017” – Exercise of options and sale of shares by primary insiders

6 March 2024

On 5 March 2024, primary insiders of the Company have exercised vested options granted under LTIP 2017 and sold shares in BW LPG in the market in a joint sale. The exercised options will be settled by the Company by transfer of treasury shares which the Company has bought in the market for this purpose. Following the transfer, the Company will hold 8,328,338 treasury shares.
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The total number of options and shares held by the relevant primary insiders following the exercise and share sale are as set out below:

Prodyut Banerjee, Vice President and Head of Operations

Options (granted in 2021) exercised, each having a strike price of NOK 0.1000: 22,720
Options held following the option exercise: 126,464
Total number of shares held following the option exercise: 22,720
Number of shares sold: 22,720
Average price sold at: NOK 109.7659 per share
Number of shares held following the sale: 0

Knut-Helge Knutsen, Vice President and Head of Technical

Options (granted in 2021) exercised, each having a strike price of NOK 0.10: 22,720
Options held following the option exercise: 126,464
Total number of shares held following the option exercise: 22,720
Number of shares sold: 22,720
Average price sold at: NOK 109.7659 per share
Number of shares held following the sale: 0

For further information, please contact:

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.

Kilde

TekBot mars 7, 2024, 5:31am #254

Financial calendar

TekBot mars 8, 2024, 6:08am #255

BW LPG Limited: Repurchase of own shares

8 March 2024

BW LPG Limited (“BW LPG”, the “Company”, OSE Ticker Code “BWLPG.OL”) has purchased a total of 9,006 of its own common shares on 7 March 2024 at an average price of NOK 115.0849 per share. The shares were purchased in accordance with the share buy-back program announced on 18 July 2023 (BW LPG Limited: Share Buyback Program).
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After these transactions, BW LPG holds 8,337,344 of its common shares, representing 5.96% of the number of issued shares. The shares purchased will be held as Treasury Stock.

Transactions made under the buy-back program that have been carried out during the above-mentioned time period are attached to this report.

For further information, please contact:

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to the disclosure requirements pursuant to Article 5 of the EU Market Abuse Regulation and Section 5-12 of the Norwegian Securities Trading Act

Kilde

TekBot mars 27, 2024, 6:02am #256

BW LPG Integrated Annual Report 2023

(27 March 2024)

BW LPG Limited (“BW LPG”, the “Company”, OSE Code: “BWLPG.OL”) today publishes its Integrated Annual Report for 2023, which has been approved by the Board of Directors of the Company.
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The report is attached as a zip file, in accordance with ESEF regulations. The report is also available on the Company’s website: https://www.bwlpg.com

For further information, please contact:

Samantha Xu, CFO
E-mail: samantha.xu@bwlpg.com

About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

Kilde

TekBot april 8, 2024, 5:08pm #257

BW LPG Limited – Public filing of registration statement and intention to list on the New York Stock Exchange

(8 April 2024)

BW LPG Limited (“BW LPG” or the “Company”) is pleased to announce that it has publicly filed a registration statement on Form 20-F with the U.S. Securities and Exchange Commission in connection with a proposed listing of the Company′s common shares on the New York Stock Exchange (the “NYSE”) in addition to the current listing of the Company′s common shares on the Oslo Stock Exchange (the “OSE”). The Company will not issue any new securities in connection with the contemplated listing on the NYSE. Further information about the listing on the NYSE will be provided in due course.
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The Company′s common shares will continue to be registered under ISIN code BMG173841013 and remain trading on the OSE under the ticker “BWLPG”.

DNB Markets, Inc is acting as financial advisor to the Company in relation to the listing on the NYSE. Advokatfirmaet Thommessen AS is acting as Norwegian legal advisor, Conyers Dill & Pearman Limited is acting as Bermuda legal advisor and Cleary Gottlieb Steen & Hamilton LLP is acting as U.S. legal advisor to the Company.

For further information, please contact:

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot april 18, 2024, 5:30am #258

Update on BW LPG’s Product Services Q1 2024 Segment Performance

18 April 2024

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) today provides an update on its Product Services’ (“BW Product Services”) Q1 2024 segment performance. For the quarter ended 31 March 2024, BW Product Services reported an estimated gross profit of approximately USD 32 million. Gross profit represents the realised trading profit plus net derivative gains and losses from open cargo contracts and hedging transactions.
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After general and administrative expenses and income taxes, BW Product Services made an estimated net profit of approximately USD 20 million for the quarter.

The average Value-At-Risk (VAR) for the quarter was approximately USD 5 million.

BW LPG will release its Q1 2024 financial report on 30 May 2024.

For further information, please contact:

Kristian Sørensen
Chief Executive Officer
E-mail: kristian.sorensen@bwlpg.com

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. 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 490 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, biofuels and water treatment.

Kilde

TekBot april 18, 2024, 12:45pm #259

BW LPG Limited – Intended transfer of share register to DTC

18 April 2024

Reference is made to the announcement made by BW LPG Limited (“BW LPG” or the “Company”) on 8 April 2024 regarding the Company′s public filing of a registration statement on Form 20-F with the U.S. Securities and Exchange Commission, in connection with a proposed listing of the Company′s common shares on the New York Stock Exchange (the “NYSE”) in addition to the current listing of the Company′s common shares on the Oslo Stock Exchange (the “OSE”).
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To facilitate the listing on the NYSE and transfer of common shares between the NYSE and the OSE, the Company intends to amend the registration structure for all its common shares to be primarily recorded and settled within the Depository Trust Company (the “DTC”) in the United States and secondarily recorded and settled in Euronext Securities Oslo (the “VPS”) through a Central Securities Depository (“CSD”) link (the “Conversion”). Consequently, the Company’s common shares will be registered in the Company’s register of members in the name of the DTC′s nominee, Cede & Co, and the DTC will act as the primary central securities depository for the shares. DNB Bank ASA, Registrars’ Department (the “VPS Registrar”) will continue to administrate the Company’s VPS register. A custodian of the VPS Registrar will be registered as the holder of the primarily registered securities in the DTC, and the secondary recording of the shares in the VPS will be derived from the DTC via the CSD link. To be able to initiate the Conversion, the DTC will need to approve the Company′s common shares for eligibility for clearing through the DTC. Following completion of the Conversion, the Company′s common shares may be transferred between the DTC and the VPS to enable trading between the respective trading venues.

Previously the technical settlement procedures in the VPS required a trading suspension in shares listed on the OSE to implement a transfer of shares from VPS to DTC through a CSD link. Due to new functionality in the settlement procedure in the VPS, the Company’s common shares listed on the OSE will continue to trade as normal on the OSE during the implementation of the Conversion, but a delay in the settlement procedure for shares traded during the last trading day prior to the Conversion may occur. The exact timing of the actual Conversion is not yet determined and is subject to the DTC clearing the shares for eligibility, but it is expected that the last trading day prior to the Conversion will be on or about 24 April 2024.

To facilitate the Conversion, the board of directors will transfer the legal title to the Company’s common shares to Cede & Co acting as nominee for the DTC pursuant to the power granted to the board of directors in bye-law 7.4 b). No action will be required by an investor holding shares in the VPS in connection with the Conversion, and investors’ registered holdings in the VPS will continue. An investor may request by a written notice that such investor’s shares are not transferred to the DTC in the Conversion. Any such notice must be sent to the secretary of the Company at investor.relations@bwlpg.com no later than by 2 pm CEST on 23 April 2024. Shares which are not transferred to Cede & Co in the Conversion will be unable to be traded on either the NYSE or the OSE following completion of the Conversion. Pursuant to the bye-laws, an investor may by written notice to the secretary of the Company request a subsequent transfer of shares to or from the DTC.

The Company′s common shares will continue to be registered under ISIN code BMG173841013 and remain trading on the OSE under the ticker “BWLPG” following the Conversion.

DNB Markets, Inc. is acting as financial advisor to the Company in relation to the listing on the NYSE. Advokatfirmaet Thommessen AS is acting as Norwegian legal advisor, Conyers Dill & Pearman Limited is acting as Bermuda legal advisor and Cleary Gottlieb Steen & Hamilton LLP is acting as U.S. legal advisor to the Company.

Please see the attached information letter regarding the Conversion which has been distributed to the shareholders today.

For further information, please contact:

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot april 23, 2024, 3:53am #260

BW LPG Limited – Approval of listing on the New York Stock Exchange

23 April 2024

Reference is made to the announcements made by BW LPG Limited (“BW LPG” or the “Company”) on 8 April 2024 regarding the Company′s public filing of a registration statement on Form 20-F with the U.S. Securities and Exchange Commission, and on 18 April 2024 with information about the transfer of share register to DTC in connection with a proposed listing of the Company′s common shares on the New York Stock Exchange (the “NYSE”) in addition to the current listing of the Company′s common shares on the Oslo Stock Exchange (the “OSE”).
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BW LPG is pleased to announce that the NYSE has approved the listing of the Company′s common shares. The Company′s common shares are expected to be admitted to trading on the NYSE on or about 29 April 2024 under the ticker “BWLP”. BW LPG′s common shares will continue to be listed on the OSE under the ticker “BWLPG”. The Company will retain its listing status as a primary listing on the OSE. The transfer of the share register to DTC will commence on or about 25 April 2024. The Company’s common shares listed on the OSE will trade as normal during the transfer period.

The Company will not issue any new securities in connection with the contemplated listing on the NYSE.

Kristian Sørensen, BW LPG CEO, says “BW LPG’s upcoming dual listing on the NYSE is a significant milestone for our company and enhancing our access to the world’s largest capital market and its investor base. In combination with our proven commercial track record and focus on financial returns, we are confident our NYSE listing will increase shareholder values and strengthen BW LPG’s market-leading position in VLGC shipping as well as adjacent areas of the LPG value chain.

The US LPG industry is playing a major role in the global LPG market, and BW LPG is already deeply involved in the US LPG exports through an extensive cargo lifting program on our ships as well as our cargo trading activities. We look forward to expanding our engagement with investors and market participants who are familiar with and close to the US energy sectors.

Today, I extend my deepest appreciation to our hardworking colleagues and partners for bringing us a step closer towards our listing on the NYSE.”

For further information, please contact:

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot april 26, 2024, 1:05pm #261

BW LPG Limited - Commencement of trading and admission to trading on NYSE

26 April 2024

Reference is made to the announcement made by BW LPG Limited (“BW LPG” or the “Company”) on 23 April 2024, regarding the New York Stock Exchange (the “NYSE”) approval of the listing of the Company′s common shares on the NYSE and on 8 April 2024 regarding the intention to amend the registration structure for its common shares to be primarily recorded and settled within the Depository Trust Company (DTC) in the United States and secondarily recorded and settled in Euronext Securities Oslo through a Central Securities Depository link (the “Conversion”).
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BW LPG is pleased to announce that the Conversion has now been successfully completed and that its common shares will commence trading on the NYSE from and including 29 April 2024 09:30 EDT.

The Company’s common shares will be traded on the NYSE under the ticker code “BWLP” and continue to be traded on the Oslo Stock Exchange under the ticker code "BWLPG”.

The Company has 140,000,000 issued common shares, of which 8,247,446 shares are treasury shares.

For further information, please contact:

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot mai 3, 2024, 5:01am #262

Information about the proposed redomiciling to Singapore – Distribution of Practice Statement Letter

3 May 2024

The board of directors of BW LPG Limited ("BW LPG” or the “Company”) propose to implement a scheme of arrangement (the “Scheme”) between the Company and its shareholders pursuant to Section 99 of the Bermuda Companies Act 1981 as amended (the "Bermuda Companies Act”) in order to effect a discontinuance of the Company from Bermuda and continuance to Singapore in accordance with the provisions of Section 132G of the Bermuda Companies Act and Part 10A of the Singapore Companies Act 1967 (the “Redomiciliation”).
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There will be a hearing on 15 May 2024 at 9:30 a.m. (Bermuda time) at which the Supreme Court of Bermuda will be asked to give directions as to the convening of a meeting of shareholders of the Company that are eligible to vote on the Scheme.

Please see the attached practice statement letter for further information about the proposed Scheme and the court hearing which has been distributed to the shareholders today. Further information about the Scheme and the effects of the Redomiciliation will be made available to the shareholders following the court hearing.

Subject to the Scheme being effective, the proposed Redomiciliation will be carried out by way of a discontinuance and continuance process, whereby the Company is continued into Singapore as the same company. Under Singapore law, the transfer of domicile will be a direct redomiciliation from Bermuda, and the Company will accordingly have the same assets and liabilities as prior to redomiciling. The board of directors and the management of the Company will also remain the same.

The Company’s name BW LPG and ticker on the Oslo Stock Exchange and the New York Stock Exchange will remain the same after the Redomiciliation. Following the Redomiciliation, the Company will have a new company registration number and the Company’s shares will have a new CUSIP and a new ISIN code, but the Company will retain its LEI code. The Company’s registered office will be the current office address in Singapore, 10 Pasir Panjang Road, #17-02, Mapletree Business City, Singapore 117438.

The effective date of the Redomiciliation is expected to be in Q3 2024.

For further information, please contact:

Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://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 490 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, biofuels and water treatment.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

Kilde