Q3 2018 Financial Results Presentation
BW LPG has applied a consistent life-cycle maintenance philosophy, ensuring a high standard of maintenance throughout a vessel's lifetime.
BW LPG is the world's leading owner and operator of LPG vessels. BW LPG currently owns and operates 50 Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) including two VLGC newbuildings with a total carrying capacity of 4 million cbm. With four decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. With a global presence in nine countries, BW LPG operates out of Singapore and is incorporated in Bermuda.
Our vessels operate on spot voyages, Contracts of Affreightment (CoAs) and short- to medium-term time charter, which are managed by BW LPG’s in-house technical team, keeping our ship management activities to the highest industry standards. The Group’s LPG customers include BP p.l.c, Chevron, ExxonMobil, Shell, Statoil, Trafigura, Vitol, Petroleo Brasileiro, Indian oil Corporation, BHP, E1, Astomos, Eneos Globe, Glencore International, Sonatrach Petroleum Corporation, and Petredec Services (Asia).
24 BW LPG vessels were awarded the Qualship 21 certification. Less than 10% of all foreign-flagged ships that operate in the United Sates meet the eligibility requirements of this programme, putting our qualified vessels in an elite class.
BW LPG has one of the lowest cash cost breakeven levels per vessel across the industry. BW LPG is substantially more cost efficient on OPEX, financing and General and Administrative expenses (G&A) on a per vessel day basis.
Technology and meteorology combines to provide the fleet with weather routing and regular voyage prognoses, mitigating weather-related risks to our voyages. On transpacific voyages between the US Gulf and Far East, scheduling of our fleet is efficient and accurate.
Hydrodynamic improvements − propeller polish, hull inspections, trim optimisation, propeller boss cap fins, mewis duct, use of auxiliary engines and; specific fuel oil consumption – these make up the many considerations that we think about.
Acting for the Future
BW LPG announced in September 2018 that it had signed contracts including future options for the delivery and retrofitting of four LPG-propelled dual-fuel engines in its fleet, in a world-first initiative. BW LPG expects the first retrofitting to take place in conjunction with scheduled dry dockings starting from 2020.
Embraces a low-carbon future and captures “green-wave” business opportunities.
Exports million tonnes