BW LPG beats expectations in third quarter

Gas carrier BW LPG delivered a result after taxes of USD 106.2 million in the third quarter, and the carrier thus surpassed analysts' expectations. Cryptic comments about next year.

BW LPG, the world's largest owner of the major VLGC gas vessels, followed in the footsteps of its competitors and delivered an improved result in the third quarter of the year. The carrier achieved a result after taxes of USD 106.2 million against USD 87.5 million in the same period last year, and this development is especially attributed to stronger time charter earnings as well as the delivery of new ships, notes BW LPG in its interim report.

The gas carrier's net result after taxes for the first nine months of the year came to USD 244.1 million, up from USD 190.7 million in the same period 2014. The quarter exceeded analysts' projections, says Danske Bank in a comment on the result. Consensus indicated an operating profit (EBITDA) of USD 115 million, with Danske Bank projecting slightly lower USD 111 million, while BW LPG finished at USD 133 milliion.

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