Singapore's BW LPG Q2 profit rises on strong shipping results

BW LPG

28/08/2026 06:11

Overview
Singapore LPG shipping firm's Q2 net profit attributable to equity holders was $120 mln, EPS $0.79
Company declared Q2 dividend of $0.95 per share, equal to 100% of shipping NPAT
Company announced sale of three vessels, expected to generate net book gains and cash proceeds

Outlook
BW LPG sees Q3 fleet days fixed at 92% at ~US$88,000 per day
Company expects spot VLGC earnings to remain highly sensitive to geopolitical developments
North American LPG exports expected to continue growing, supported by new infrastructure

Result Drivers
SHIPPING PERFORMANCE - Co attributed Q2 profit to strong shipping results, supported by robust time charter coverage and exposure to the spot market
PRODUCT SERVICES TRADING - Product Services division delivered a strong realised trading gain of $127 mln, though overall trading results were impacted by a non-cash unrealised mark-to-market loss
MARKET VOLATILITY - Volatile VLGC market conditions driven by Middle East conflict, shifting trade patterns, and Panama Canal transit restrictions affected freight rates and cargo movements

Company press release: ID:nMFN2HQzyV

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.79
 
Q2 Net Profit After Tax
 
$138 mln
 
Q2 Dividend
 
$0.95
 
Q2 ROE
 
27.00%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Aug 27 - CMB.Tech's core profit more than doubles as Hormuz disruption lifts freight rates
Aug 26 - Maritime lessor SFL posts preliminary Q2 profit; declares dividend
Aug 26 - Norway's 2020 Bulkers Q2 profit helped by vessel sales

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)