17 April 2015
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:
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
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.