BW LPG Ltd (BWLP)

NYSE · Transport & Logistics · Transportation Services

Price
$24.30
Day
-0.57%

Close 2026-09-23.

The company

4.B. BUSINESS OVERVIEW Market Overview The VLGC market in 2025 experienced significant fluctuations, driven by both geopolitical events, regional price differences of LPG, low fleet growth and trade inefficiencies. Spot rates came under pressure in early 2025 as cold weather and fog negatively impacted VLGC loadings in the US Gulf. This is however a normal seasonal phenomenon, and its impact was less severe in 2025 compared to previous years. Towards the end of the first quarter, spot rates were improving again. VLGC spot rates, Middle East – Far East & US Gulf – Far East Source: Baltic Exchange, Internal analysis In early April, trade tensions between the US and China increased sharply as the two countries began imposing tariffs on each other. The rapid escalation of this trade war had a near immediate impact on LPG shipping, as the trade between the largest exporter (USA) and the biggest importer (China) nearly vanished. While the beginning of the trade war was a massive disruption to established trade routes, the market quickly began to adapt to the new reality.

From Item 1: 4.B. BUSINESS OVERVIEW · Market Overview.

Institutional holders

Largest positions reported on Form 13F for the quarter ended 2026-06-30, by value.

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