16 March 2015

Estimates for the employment utilisation, Q1 2015

(Singapore, 16 March 2015)

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG”) presents its estimates for utilisation of its vessels across contract types in Q1 2015.

BW LPG has seen strong deployment of vessels under COA contracts in the first quarter of 2015, including final liftings under existing CoAs as well as first liftings under the renewed CoAs, supporting strong utilisation levels during the period. CoA-fixed proportions are expected to reduce during the course of the year.

Projected revenue days by contract type for Q1 2015 are now as follows:

VLGC Days

Qtr% of Total
Total ship days2,839
Not Yet Fixed1997.0%
Voyage38413.5%
COA-spot1836.4%
COA-fixed1,14940.5%
TC-fixed81928.8%
Unutilised662.3%
Technical offhire401.4%


LGC Days

Qtr% of Total
Total ship days450
Not Yet Fixed-0.0%
Voyage7717.2%
COA-spot-0.0%
COA- fixed-0.0%
TC-fixed36080.1%
Unutilised*-0.0%
Technical offhire122.8%

* Unutilised days are those days where a vessel is technically available for hire but not earning revenue, e.g. no available fixtures; delivery from yard to first charter; redelivery of vessel on completion of charter-in.

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 504,000 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.