BW LPG Limited announced that it has entered into three-year time charter-out contracts for two of its VLGCs, BW Tucana and BW Yushi. The period charters commenced in January 2026, increasing the fixed-rate time charter-out coverage to approximately 35% of the fleet capacity with an average rate of about USD 43,500 per day for 2026. Due to ongoing negotiations regarding the renewal of current time charters, the coverage level and average hire rates are subject to change prior to the Q4 2025 earnings release.

Kristian Sørensen, 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 to strengthen its commercial platform with improved earnings visibility and robust downside protection while maintaining considerable spot exposure to a growing VLGC market.”

Source: BUSINESS WIRE