The 2nd quarter 2014 hit the spot for gas carrier BW LPG, whose primary competition includes the two major fellow gas carriers Avance Gas and Dorian LPG. The carrier achieved a net profit after taxes of USD 72.4 million, which is more than a doubling compared to USD 32.6 million in the same period last year, according to the carrier's interim report.
The significant improvement is especially attributed to the time-charter rates for the major VLGC gas vessels. The rates reached an average of USD 30,800 per day, compared to USD 24,500 in the same quarter last year.
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