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Read all the latest news about BW LPG. ShippingWatch gives you independent, credible, critical and fair news.

Ackermann doubts that another golden age is nigh for large gas tankers

The market for Very Large Gas Carriers is currently around the OPEX level for carriers and it is doubtful if the vessels will ever return to the record levels of 2014 and 2015, says Martin Ackermann, CEO of BW LPG, to ShippingWatch. "A cautious guess is that we'll see improvement in 2018."

BW LPG hit by cancellations in the US

Many cancellations of cargo in the US made their mark on the large gas vessels in the second quarter in which BW LPG booked a net deficit of USD 7 million.

BW LPG forms joint venture in India

Gas carrier BW LPG will increase its presence in India with a new joint venture. The partnership provides growth opportunities and a stronger foundation in one of the world's biggest LPG markets, says CEO.

DHT's takeover of BW Group's VLCC fleet is complete

DHT Holding has completed its acquisition of BW Group's fleet of nine VLCCs together with contracts on two VLCCs. "Our fleet has been expanded by 50 percent at what we think is an opportune time in the cycle," says management.

Depressed rates hit BW LPG in Q1

The world's biggest LPG carrier left the first quarter with a significantly reduced result compared to the same period 2016. The pressure on rates will continue into the second quarter.

Analysis: LPG market facing years of slower growth

The LPG market is facing a period of slower growth ahead of 2019, a period in which China will replace Japan and South Korea as the main driving force in the market, notes DVB Research in a new analysis.

BW LPG's profit takes big dive in 2016

Gas carrier BW LPG finished 2016 with a bottom line ten times lower than in 2015, due to the overall weaker LPG market. Management expects that the market will improve around a year from now.

BW LPG now owns 92.7 percent of Aurora

Gas carrier BW LPG has secured a stake of 92.71 percent in Aurora LPG following an offer period. "We remain confident that the combination of BW LPG and Aurora LPG will create a stronger player in the challenging environment in the LPG shipping industry," says CEO Martin Ackermann.

BW LPG exits Q3 with large deficit

Gas carrier BW LPG stayed in the deficit the carrier fell into in the second quarter this year. The negative result is attributed mainly to three factors.

BW Group hires new CFO from Norden

Jakob Bergholdt, current head of Norden's Singapore office, will become new CFO of BW Group and he will thus be working alongside his former boss at Norden, Carsten Mortensen.

Aurora pressures BW LPG to raise acquisition offer

After meetings with the board of Aurora, the world's largest owner of gas vessels, BW LPG, has raised its takeover offer for Aurora and has now secured support from shareholders representing more than 52 percent of the share capital.

Avance Gas sticks with acquisition strategy after BW offer

The door remains wide open to the executive office at Avance Gas if industry peers are looking for collaboration partners, CEO Christian Andersen tells ShippingWatch. He explains that the gas carrier is still looking for acquisitions even though BW LPG has made a bid for Aurora LPG.

Who is Aurora LPG's "mysterious" lender?

Norwegian gas carrier Aurora LPG has secured a new credit facility of USD 21 million, but the carrier's management withholds the name of the creditor and the conditions of the loan. Analyst firm Pareto Securities is puzzled and wonders who this "mysterious lender" is.

Aurora LPG eyes better days ahead after tough quarter

Norwegian gas carrier Aurora LPG took a hit from the low rates in the first half of 2016, but management points to signs that the crisis is temporary in nature and that rates could rebound to sustainable levels already this year.

Avance CEO: The LPG crisis defies common sense

The fact that rates are sliding even though the vessels have plenty to do on the global LPG market go against every shipping theory out there, says Christian Andersen, CEO of Avance Gas. The company is ready to partake in consolidation, but the question is whether BW LPG will get there first?

Asset value impairments send BW LPG into the red

Impairments on asset values and lower rates for LPG transports hit VLGC market leader BW LPG with a major deficit in the second quarter this year. The future looks challenging, notes management.

LPG vessels had a short boom and a quick bust

The LPG vessels have entered a new phase which is in effect an elimination contest among the major players. Once the shipping industry's safest bet, plummeting rates and overcapacity have now altered the scenario completely, and only one of the major players looks set to outperform the rest.

BW LPG: We should not be too optimistic right now

BW LPG delivered a record result in 2015, but CEO Martin Ackermann is more subdued in regards to the coming year. "The whole world is under pressure so it's hard to be really optimistic right now," he says in an interview with ShippingWatch.

Carriers kick off VLGC consolidation race

Norwegian gas carrier Aurora is now being courted by both Avance Gas and BW LPG - two of the biggest VLGC carriers in a market where the race to achieve consolidation now seems to be underway. Its Andersen versus Ackermann.

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