Economic Performance

Focused on our customers and the environment

BW Orion, an LPG Powered Very Large Gas Carrier VLGC

As we aim to grow profitably in the value chain, we continue to remain focused on our customers and the environment. A sustainable business requires a sound strategy and its focused implementation. Our strategy, developed over the years, has guided us to expand our presence in the value chain and embark on disciplined fleet renewal. This commitment has borne fruit, and we now enjoy a strong balance sheet, optimised fleet profile, successful corporate expansion, and continued investor interest.

Our Return on Equity (ROE) performance is monitored on a quarterly basis and reported transparently to our investors during our earnings release. Time Charter Equivalent (TCE), a standard industry performance measure for earnings, is monitored daily and guides our commercial strategy. We regularly benchmark against the Baltic Index and our peers to determine how we are performing. Cost control is also part of our strategy as we monitor our Vessel Operational Expenditure (OPEX) monthly and benchmark against industry peers to ensure we remain competitive

Responsible Tax

BW LPG’s tax strategy involves conducting and overseeing our tax matters in line with our Tax Principles and responsible tax policy. We commit to full compliance to the tax authorities of jurisdictions that we operate in. 

Our external auditor performs an independent assurance as part of the annual BW LPG financial reporting process including income taxes paid and tax provisions. In addition, external tax advisory is engaged to support the Group’s tax planning and investments in foreign jurisdictions.  

Sustainability and the Business

Sustainability PrioritiesInputsOutputs
Responsible Transition - Reduce GHG emissions across our fleet

- Full compliance with IMO regulations

- Optimise vessel efficiency and voyage operations
- Investment in LPG propulsion technology opens new markets and demand for LPG

- New LPG dual-fuel buffers against bunker price volatility

- Continued license to operate in ompliance with all international regulations

- Eligible for sustainability-linked financing which helps lower borrowing cost

- Increased commercial availability means more charters
Environmental Impact - Protect ocean health

- More responsible and transparent ship recycling
- Continued license to operate

- Eligible for green financing and better rates from capital lenders
Conducive Workplace- Crew and employees who are well emotionally, mentally and physically

- Good work-life balance benefitting family as building blocks of society

A diverse and inclusive work environment
- Increased productivity

- Reduced medical costs

- Higher retention, lower turnover

- Recruitment of top talent

- Committed and engaged workforce
Talent ManagementA skilled, committed and engaged workforce benefitting from fair employment practices

Provision of training and progression opportunities for all employees and crew
Recruitment of top talent

Committed and engaged workforce

Higher retention, lower turnover
Operational Excellence- Reputation for ethical and responsible business conduct

- Optimise business processes through innovation and quality management

- Uphold business integrity in a global stand against bribery and corruption in the maritime industry

- Generate sustainable economic value for our stakeholders
- Continued license to operate

- Preferred LPG shipping partner for traders and oil and gas majors

- Increased commercial availability means more charters

- Operate more efficiently

- Improve access to capital, mitigate risk and safeguard stakeholders’ interests

- Dividends to our shareholders

- Increasing net asset value of the company