Brief: Shipper BW LPG's core profit lags forecast

BW LPG

28/02/2019 07:18

Feb 28 (Reuters) - BW LPG Ltd  BWLPG.OL :
    * Q4 TCE REVENUE $ 84.6 MILLION (REUTERS POLL $91.4 MILLION)
    * Q4 EBITDA $35.7 MILLION (REUTERS POLL $42.5 MILLION)
    * WITH STRENGTHENING FUNDAMENTALS, WE EXPECT FREIGHT MARKET
TO
CONTINUE TO IMPROVE GOING FORWARD
    * WE REMAIN CAUTIOUSLY OPTIMISTIC FOR FULL YEAR DUE TO
SUSTAINED
U.S. LPG PRODUCTION GROWTH AND INCREMENTAL EXPORT VOLUMES BEING
ADDED FROM OTHER KEY LOADING AREAS SUCH AS AUSTRALIA AND CANADA
    * HOWEVER, INCREASED DEMAND FOR VLGC'S FROM GROWING U.S.
EXPORTS
WILL IN PART BE OFFSET BY A HIGH LEVEL OF NEWBUILD DELIVERIES
    * WE MAINTAIN OUR NEUTRAL VIEW ON MIDDLE EASTERN VLGC
EXPORTS AS
INCREMENTAL REGIONAL GROWTH IS EXPECTED TO COMPENSATE EFFECTS
FROM RE-IMPOSED SANCTIONS ON IRAN

Further company coverage:  BWLPG.OL 

 (Reporting By Oslo Newsroom)
 ((balazs.koranyi@thomsonreuters.com;))