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Investor Presentation September 2025
Solid Financial Performance and Continued Operational Efficiency
Largest shareholders
Key figures
- 11%reduction in CO₂ emissions (vs baseline)
- 0fatalities in 2024
- 100%of owned vessels with LPG dual-fuel engines
Why invest?
BW LPG provides value across the LPG supply chain, maintaining disciplined
and consistent direction amid geopolitical headwinds
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.
LPG shipping company with presence in adjacent value chain
- Operations throughout the LPG value chain with shipping as core.
- The world’s leading operator of about 50 VLGC vessels, 22 are dual-fuel.
- Experienced in-house LPG trading division.
- Investment in LPG downstream distribution.
Dual-listed, returns focused with a proven dividends record
- Listed in New York and Oslo with a market capitalisation of ~$2B.
- Proven track record focused on returns.
- Paid out more than ~76% of earnings as dividend since IPO in 2013.
- Paid out 123% of earnings in 2024.
LPG as a cleaner energy source
- Crucial for energy transition, providing cleaner LPG to world markets.
- Invested over $130 million to retrofit 15 VLGCs with LPG dual-fuel technology.
- $11 million savings in 2024 from using LPG fuel.
- Scope 1 GHG reduction of 11% from our 2019 baseline.
Leader in key LPG markets
- Key player in US LPG exports, supporting US and Middle East shipments.
- India’s largest owner and operator of VLGC vessels, carries >20% of LPG into India.
- Investment in LPG downstream assets in India.
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