BW LPG
ANNUAL REPORT
2019

2019 IN NUMBERS

 
FINANCIAL
PERFORMANCE

TCE income

US$547
million

EBITDA

US$399
million

Dividend
per share

US$0.85

FINANCIAL
POSITION

US$39
million

Proceeds from vessel divestments

Strong liquidity runway

US$294
million

in undrawn facility
and liquid cash

Strong credit profile

All-in cost of debt

1.8% + LIBOR

ENVIRONMENTAL PERFORMANCE

Commitment to retrofit 12 vessels with pioneering LPG dual-fuel propulsion technology

Spills
to sea

0

Waste landed ashore

1,188.5M3

1,620.8M3 (2018)

COMMERCIAL PERFORMANCE

Spot TCE

US$39,100 per day

VLGC spot exposure

86%

Commercial utilisation

95%

of commercially available days

OPERATIONS AND SAFETY

TRCF
Baseline

1.5

TRCF BW LPG

0.89

Cargo carried by BW LPG in 2019

12,281,762

metric tons

Fatalities

0

 
MARKET REVIEW

Increased US
- Far East LPG
price spread

US$129 per
metric ton (2019)

US$64 per metric ton (2018)

Improved VLGC Time Charter
Equivalent

VLGC TCE:

US$35,000
per day (2019)

US$18,400 per day (2018)

Increased North America LPG exports

40.2 million
metric tons (2019)

32.7 million metric tons (2018)

Growth rate:

23% YoY

VLGC fleet
growth

6.4% YoY

VLGC ton-mile
growth

13% YoY

Strong imports driven by
Far East and Southeast Asia

Far East:

3.7 million
metric tons

increase highest growth in import volumes

Southeast Asia:

21.4%

increase YoY highest growth rate

BW LPG ANNUAL REPORT 2019

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