Multi-year time charter duo strengthens BW LPG’s presence in VLGC market
Singapore-based shipowner and operator BW LPG, associated with BW Group, has secured two long-term time charter-out deals for a pair of very large gas carriers (VLGCs).
While revealing two three-year time charter-out contracts for its 2016-built BW Tucana and the 2020-built BW Yushi VLGCs, BW LPG explained that the period charters begun in January 2026, increasing the fixed-rate time charter-out coverage to approximately 35% of the fleet capacity with an average rate of about $43,500 per day for 2026.
The company elaborates that the coverage level and average hire rates are subject to change prior to the Q4 2025 earnings release, due to ongoing negotiations regarding the renewal of current time charters.
Kristian Sørensen, BW LPG’s Chief Executive Officer, commented: “We are pleased to have secured two additional three-year time charters at solid levels, consistent with our communicated strategy of increasing coverage to approximately 40% of our fleet capacity through period charters and/or FFAs.
“BW LPG continues
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