BW LPG boosts result by USD 100 million on high spot rates

Rising spot rates and higher fleet utilization produced a profit of USD 80 million in the first quarter. Recovery in China, among other factors, helps sustain demand.

Photo: PR/BW LPG

BW Group's LPG shipping company made USD 80 million in the first quarter of the year, a significant increase from a deficit of USD 20.7 million in the same quarter 2019.

Meanwhile, TCE earnings more than doubled and landed at USD 162 million for the first three months of the year, against USD 60.2 million in the same period last year.

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