Environment
As at 31 December 2024
Environment Metrics - 2024
| Description of Metric | Unit of Measurement | 2024 | 2023 | 2022 |
| Emissions | ||||
| GHG emissions (Scope 1 emissions) | ||||
| Total Scope 1 | Tonnes ('000) | 1,368.81 | 1,420.06 | 1,265.45 |
| Total amount of Carbon Dioxide (CO2) emitted | CO2-eq tonnes ('000) | 1,358.07 | 1,409.00 | 1,255.97 |
| Total amount of Methane (CH4) emitted | CO2-eq tonnes ('000) | 0.37 | 0.40 | 0.37 |
| Total amount of Nitrous Oxide (N2O) emitted | CO2-eq tonnes ('000) | 10.37 | 10.66 | 9.11 |
| GHG emissions (Scope 2 emissions) | ||||
| Total amount of Carbon Dioxide (CO2) emitted | CO2-eq tonnes ('000) | 0.04 | 0.04 | 0.07 |
| Other Emissions | ||||
| Total nitrogen oxide (NOx) | Tonnes ('000) | 32.80 | 34.19 | 29.21 |
| Total sulphur oxide (SOx) | Tonnes ('000) | 6.69 | 7.71 | 5.78 |
| Total particulate matter (PM10) | Tonnes ('000) | 2.02 | 2.2 | 1.88 |
| Carbon Intensity Index | ||||
| Energy Efficiency Design Index (EEDI) | g CO₂ / (tonne ⋅ nm) | 5.39 | 5.5 | N/A |
| Energy Efficiency Operation Index (EEOI) | g CO₂ / (tonne ⋅ nm) | 14.27 | 16.23 | 17.40 |
| Annual Efficiency Ratio (AER) | g CO₂ / (tonne ⋅ nm) | 6.44 | 6.66 | 7.20 |
| Carbon Intensity Index (CII) | g CO₂ / (tonne ⋅ nm) | 6.33 | 6.54 | N/A |
| Energy | ||||
| High sulphur fuel oil (HSFO) | Tonnes ('000) | 99.13 | 117.31 | 70.00 |
| Very low sulphur fuel oil (VLSFO) | Tonnes ('000) | 252.92 | 246.33 | 264.50 |
| Low sulphur marine gas oil (LSMGO) | Tonnes ('000) | 25.20 | 28.74 | 28.00 |
| Liquified petroleum gas (LPG) | Tonnes ('000) | 72.64 | 64.44 | 41.90 |
| Percentage (%) heavy fuel oil (HFO) | Percentage (%) | 52% | 59% | 53% |
| Energy consumption | ||||
| Energy consumption for vessels | Terajoules | 18,241.37 | 18,765.07 | 16,532.70 |
| Non-renewable fuel consumption | Terajoules | 18,241.37 | 18,765.07 | 16,532.70 |
| Total office energy consumption | Terajoules | 0.50 | 0.40 | 0.50 |
| Spills | ||||
| Number of spills | Number | 0 | 0 | 0 |
| Aggregated volume | m³ | 0 | 0 | 0 |
| Waste landed onshore | ||||
| Waste | m³ | 1002.7 | 1002.4 | 1,044.3 |
| Percentage of fleet implementing ballast water | ||||
| (1) Exchange | Percentage (%) | 100% | 100% | 100% |
| (2) Treatment | Percentage (%) | 100% | 100% | 86% |
| Activity metrics | ||||
| Number of vessels | Number | 55 | 47 | 43 |
| Total distance travelled by vessels | Nautical miles ('000) | 4,000 | 3,872 | 3,219 |
| Available days | Days | 12,593 | 12,657 | 13,341 |
| Deadweight tonnage | Deadweight tonnes ('000) | 3,012 | 2,529 | 2,305 |
| Number of vessel port calls | Number | 1,167 | 1,153 | 976 |
Comments on Environment Data
Certain prior year data has been recalculated to include additional and/or missing data points
| Fleet | |
| Owned Fleet | Vessels fully owned and managed by BW LPG (including vessels under BW LPG India) during the reporting period. |
| TC-in Fleet | Vessels chartered in and operated by BW LPG throughout the reporting period. |
| Emissions | |
| GHG Scope 1 Emissions | Emissions generated directly from the operation of our owned and TC-in vessels. These are calculated using fuel consumption data with conversion and emission factors based on IMO’s 3rd and 4th GHG studies and the US EPA. The scope includes vessels under BW LPG Group’s technical and/or operational management during the reporting year. |
| GHG Scope 2 Emissions | Emissions from the indirect consumption of purchased energy for office operations in Singapore, Norway, and Spain, are reported under the GHG Protocol’s location-based methodology. Calculations reference the GHG Protocol, using Singapore, Norway and Spain’s latest grid emission factor. |
| Nitrogen Oxide (NOx) | Emissions directly produced from the operation of our owned, and TC-in vessels. Calculations are based on conversion and emission factors recommended by the IMO’s 3rd and 4th GHG studies. |
| Sulphur Oxide (SOx) | Emissions directly resulting from the operation of our owned and TC-in vessels. These are calculated using data on fuel oil consumption and recorded sulphur content by fuel type, with emission factors derived from vessel performance data and IMO’s 3rd and 4th GHG studies. |
| Particulate Matter (PM10) | Direct emissions from the operation of our owned and TC-in vessels. Emission calculations use conversion factors from IMO’s 3rd and 4th GHG studies, the US EPA, and the European Environment Agency’s air pollutant emission inventory guidebook (2019), with reference to ENTEC (2007). |
| Carbon Intensities | |
| Annual Efficiency Ratio (AER) | AER estimates cargo carried using the vessel’s designed deadweight capacity instead of actual cargo and assumes continuous cargo operations. It is calculated by dividing the total CO2 emissions of all owned vessels by the product of their total deadweight tonnage and distance travelled. |
| Energy Efficiency Operational Index (EEOI) | EEOI approximates cargo carried using the vessel’s designed deadweight capacity and assumes vessels are always carrying cargo. It is calculated by dividing the total CO2 emissions from all owned vessels by the product of total cargo tonnage and distance travelled. |
| Energy Efficiency Design Index (EEDI) | The average EEDI reflects the energy efficiency of ship designs based on IMO measures to promote the use of energy-efficient equipment and engines. This disclosure aligns with the SASB Marine Transportation standard (TR-T-110a.4). |
| Energy | |
| Fleet Fuel Consumption | Represents the total fuel oil consumed by the fleet, measured in tonnes, covering all fuel types used—Heavy Sulphur Fuel Oil (HSFO), Very Low Sulphur Fuel Oil (VLSFO), Low Sulphur Marine Gas Oil (LSMGO), and Liquefied Petroleum Gas (LPG). |
| Fleet Energy Consumption | The total energy used by the fleet, calculated from bunker fuel consumption for main engines, auxiliary engines, boilers, and tank conditioning. Measurements are in metric tonnes, following guidelines from third-party bunker management providers and IMO MEPC 70/18/Add.1 Annex 9. |
| Office Energy Consumption | The total energy consumed by key onshore offices in Singapore, Norway, and Madrid, calculated based on electricity usage in kWh and converted to terajoules (TJ) using a standard kWh-to-TJ conversion factor. |
| Percentage (%) Heavy Fuel Oil | Disclosure, as required under the Sustainability Accounting Standards Board (SASB) - Marine Transportation (TR-MT-110a.3). |
| Ship Recycling and Ecological Impacts | |
| Spill and Releases | Refers to oil spills as defined under MARPOL Annex I regulations. |
| Waste Landed Ashore | Waste generated by owned vessels that are disposed of at onshore facilities. |
| Percentage of Fleet Implementing Ballast Water Treatment | The proportion of owned vessels equipped with ballast water treatment systems, calculated as the number of vessels with installed systems divided by the total fleet. |
| Shipping Duration in Marine Protected Areas | Required disclosure under the SASB Marine Transportation standard (TR-MT-160a.1). This data is currently not reported due to unavailability. |
| Activity Metrics | |
| Number of vessels | The total count of vessels in the fleet as of the end of the reporting year. |
| Number of available days | The total number of calendar days vessels were operational, excluding days when vessels were off-hire. |
| Number of port calls | The total number of instances a vessel enters a port for activities such as loading, discharging, ship-to-ship transfers, bunkering, dry docking, or crew changes. |
Social
As at 31 December 2024
Social Metrics - 2024
| Description of Metric | Unit of Measurement | 2024 | 2023 | 2022 |
| Health and Safety | ||||
| Crew | ||||
| Number of fatalities as a result of work-related injury | Number | 0 | 0 | 0 |
| Lost-Time Injury (LTI) | Number | 3 | 1 | 0 |
| Total Recordable Case (TRC) | Case | 3 | 1 | 1 |
| Number of hours worked | Hours (000) | 5,882 | 6,218 | 6,311 |
| Rate of fatalities as a result of work-related injuries | Percentage (%) | 0% | 0% | 0% |
| Lost-Time Injury Frequency (LTIF) | Frequency | 0.51 | 0.16 | 0 |
| Total Recordable Case Frequency (TRCF) | Frequency | 0.51 | 0.16 | 0.16 |
| Onshore Staff | ||||
| Number of fatalities as a result of work-related injury | Number | 0 | 0 | 0 |
| Number of high-consequence work-related injuries (excluding fatalities) | Number | 0 | 0 | 0 |
| Number of recordable work-related injuries | Number | 0 | 0 | 0 |
| Rate of fatalities as a result of work-related injuries | Percentage (%) | 0% | 0% | 0% |
| Rate of high-consequence work-related injury | Percentage (%) | 0% | 0% | 0% |
| Rate of recordable work-related injury | Percentage (%) | 0% | 0% | 0% |
| Accident & Safety Management | ||||
| Marine Casualties | ||||
| Number of marine casualties | Number | 0 | 0 | 0 |
| Percentage classified as very serious | Percentage (%) | 0% | 0% | 0% |
| Number of Port State Control | ||||
| (1) Deficiencies | Number | 0.4 | 0.52 | 0.04 |
| (2) Detentions | Number | 0 | 0 | 0 |
| Training | ||||
| Crew | ||||
| Total training hours | Hours | 11,560 | 14,157 | 13,880 |
| Average training hours | Hours | 8.8 | 9.8 | 9.2 |
| Onshore Staff | ||||
| Total training hours | Hours | 1,529 | 142 | 996 |
| Average training hours | Hours | 12.9 | 1.4 | 10.6 |
| Permanent Staff | ||||
| Crew | ||||
| Total | Number | 1,310 | 1,444 | 1,507 |
| Male | Number | 1,289 | 1,419 | 1,494 |
| Female | Number | 21 | 25 | 13 |
| Onshore Staff | ||||
| Total | Number | 119 | 101 | 94 |
| Male | Number | 70 | 59 | 56 |
| Female | Number | 49 | 42 | 38 |
| < 30 years old | Percentage (%) | 8% | 10% | 7% |
| 30 – 50 years old | Percentage (%) | 68% | 67% | 68% |
| > 50 years old | Percentage (%) | 24% | 23% | 25% |
| Temporary staff | ||||
| Onshore staff | ||||
| Total | Number | 0 | 1 | 0 |
| Male | Number | 0 | 1 | 0 |
| Female | Number | 0 | 0 | 0 |
| Employee Diversity (Onshore) | ||||
| Senior-level employees | ||||
| Total number of employees | Number | 11 | 17 | 18 |
| Male | Percentage (%) | 82% | 77% | 83% |
| Female | Percentage (%) | 18% | 24% | 17% |
| Mid-level employees | ||||
| Total number of employees | Number | 92 | 53 | 48 |
| Male | Percentage (%) | 64% | 69% | 67% |
| Female | Percentage (%) | 36% | 32% | 33% |
| Entry-level employee | ||||
| Total number of employees | Number | 16 | 32 | 28 |
| Male | Percentage (%) | 19% | 32% | 32% |
| Female | Percentage (%) | 81% | 66% | 68% |
Comments on Social Data
Certain prior year data has been recalculated to include additional and/or missing data points
| Health and Safety | |
| Fatalities | The total number of work-related incidents that resulted in the death of an employee, crew member, or contractor. |
| Lost-Time Injury (LTI) / Lost-Time Injury Frequency (LTIF) | LTI refers to incidents resulting in lost workdays, permanent partial or total disabilities, or fatalities due to workplace injuries. LTIF measures the frequency of such injuries per 1 million hours worked. |
| Total Recordable Case (TRC) / Total Recordable Case Frequency (TRCF) | TRC accounts for all work-related incidents, including lost-time injuries, restricted work injuries, medical treatment cases, first aid incidents, and fatalities. TRCF represents the number of total recordable cases per 1 million hours worked. |
| Crew and Employee | |
| Employee | Refers to office staff. Permanent employees have full-time contracts without a set end date, while temporary employees work part-time under contracts with defined durations. |
| Training | Training includes topics on diversity and inclusion, business ethics, sustainability, cybersecurity, health and safety, upgrading and upskilling training hours. |
| Number of Crew | Includes crew from owned and TC-in vessels. |
| Number of Crew | Entry-level refers to employees who execute the day-to-day operations of the company (Assistants and Executives) Mid-level refers to employees who plan and supervise the day-to-day operations of the company (Assistant Manager, Manager, Senior Manager, and General Manager) Senior-level refers to employees who have a high level of experience, knowledge and responsibility within the company (Executive Management). |
Governance
Governance Metrics 2024
| Description of Metric | Unit of Measurement | 2024 | 2023 | 2022 |
| Board Diversity | ||||
| Male | ||||
| Number of individuals | Number | 4 | 3 | 2 |
| Percentage of individuals within the organisation's governance bodies | Percentage (%) | 67% | 60% | 40% |
| Female | ||||
| Number of individuals | Number | 2 | 2 | 3 |
| Percentage of individuals within the organisation's governance bodies | Percentage (%) | 33% | 40% | 60% |
| Supply Chain | ||||
| Supply Chain Spending | ||||
| Europe | Percentage (%) | 62% | 62% | 77% |
| Far East Asia | Percentage (%) | 14% | 25% | 12% |
| North America | Percentage (%) | 1% | 2% | 3% |
| Middle East | Percentage (%) | 0% | 0% | 0% |
| Others | Percentage (%) | 23% | 11% | 8% |
| Number of Vendors | ||||
| Total | Number | 284 | 293 | 285 |
| Europe | Number | 136 | 140 | 125 |
| Far East Asia | Number | 61 | 56 | 56 |
| North America | Number | 27 | 31 | 30 |
| Middle East | Number | 4 | 4 | 7 |
| Others | Number | 56 | 62 | 67 |
| Anti-Corruption Risks and Incidents | ||||
| Africa | ||||
| Total number of port calls | Number | 25 | 23 | 55 |
| Total port calls assessed for corruption related risks | Percentage (%) | 100% | 100% | 100% |
| Asia (including India and China) | ||||
| Total number of port calls | Number | 580 | 351 | 275 |
| Total port calls assessed for corruption related risks | Percentage (%) | 100% | 100% | 100% |
| South America | ||||
| Total number of port calls | Number | 147 | 100 | 73 |
| Total port calls assessed for corruption related risks | Percentage (%) | 100% | 100% | 100% |
| Corruption index | ||||
| Number of calls at ports in countries that have the 20 lowest rankings in Transparency International's Corruption Perception Index | Number | 0 | 0 | 1 |
| Corruption | ||||
| Total amount of monetary losses as a result of legal proceedings associated with bribery or corruption | US$'000 | 0 | 0 | 0 |
| Economic Performance and Contributions | ||||
| Total revenue | US$'000 | 3563747 | 2947340 | 1558124 |
| Total expenses | US$'000 | 2951561 | 2246426 | 1151847 |
| Staff compensation | US$'000 | 43902 | 27541 | 17647 |
| Manning cost | US$'000 | 45350 | 42883 | 46878 |
| Other expenses | US$'000 | 2862309 | 2176002 | 1087322 |
| Political contributions | US$'000 | 0 | 0 | 0 |
Comments on Governance Data
Certain prior year data has been recalculated to include additional and/or missing data points
| Supply Chain | |
| Number of Vendors and Spending | Refers to suppliers that provide goods and services to vessels managed internally. |
| Anti-Bribery and Anti-Corruption | |
| % of port calls assessed for corruption related risks | All ports visited have undergone assessments to identify potential corruption-related risks. |
| Transparency International Corruption Perception Index | Reflects data derived from the most recent Corruption Perception Index published by Transparency International. |
| Economic Performance | |
| Revenue | Includes total earnings from spot and time charter voyages, with certain comparative figures adjusted to align with the current reporting format. |
| Expenses | Represents total costs related to voyages, charter hire, vessel operations, and general administrative activities, with some comparative figures reclassified for consistency with current reporting standards. |
| Manning Costs | Covers expenses related to crew members working onboard vessels. |
| Staff Compensation | Refers to salaries and benefits provided to office-based employees. |
| Political Contributions | Encompasses any financial support given to political parties, including donations, sponsorships, loans, and contributions to organisations linked to political activities. No such contributions were made during the reporting year. |
