Regulatory

BW LPG Annual Report 2014: Expanding Horizons

(Singapore, 17 April 2015)

BW LPG is pleased to present its 2014 Annual 
Report. Users can read and download the report at 
http://www.bwlpg.com/investor-centre/annual-report

In his letter CEO Nicholas Gleeson commented, "BW 
LPG has achieved excellent operational and 
financial outcomes in 2014, a year which has shown 
substantial growth and exceptional charter rates. 
Our leading VLGC position was enhanced by the 
acquisition of additional second-hand tonnage in 
2013, enabling BW LPG to be the most important 
maritime contributor to exports of LPG from the 
United States." The recent acquisition of four VLGC 
newbuilding contracts on favorable terms highlights 
BW LPG's ability to continue to grow its fleet cost-
efficiently, for long-term value enhancement.

Mr. Gleeson adds, "The Company continues to pursue 
growth through storage and logistics projects and 
other NGL-shipping related opportunities, and will 
continue to seek opportunities to add tonnage at 
price which is value-accretive in the long-term. 
Purchase options have been declared where these 
enable to grow the fleet in a constructive way."

For further information, please contact:
Vijay Kamath
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Email: vijay.kamath@bwlpg.com

About BW LPG

BW LPG is the world's largest very large gas 
carrier (VLGC) owner and operator based on number 
of VLGCs and by LPG carrying capacity. BW LPG owns 
and operates 37 gas carriers with a total carrying 
capacity of close to 3 million cbm and a further 
756,000 cbm of capacity on order in Korea. With 35 
years of operating experience in LPG shipping and 
experienced seafarers and staff, BW LPG offers a 
flexible and reliable service to customers. BW LPG 
is associated with BW Group, one of the world's 
leading shipping groups. BW Group is involved in 
oil and gas transportation, floating gas 
infrastructure, environmental technologies and deep-
water production.

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