UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2024
Commission File Number: 001-42008
BW LPG Limited | |
(Translation of registrant’s name into English) |
c/o BW LPG Holding Pte Ltd 10 Pasir Panjang Road, #17-02 Mapletree Business City, Singapore 117438 |
|
(Address of principal executive office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
DOCUMENTS TO BE FURNISHED AS PART OF THIS FORM 6-K
Exhibit Number | Description |
99.1 | BW LPG Limited – Update on BW LPG’s Product Services Q2 2024 Segment Performance |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BW LPG Limited | ||
By: | /s/ Samantha Xu | |
Name: | Samantha Xu | |
Title: | Chief Financial Officer |
Date: July 17, 2024
Exhibit 99.1
BW LPG Limited - Update on BW LPG’s Product Services Q2 2024 Segment Performance
(Singapore, 17 July 2024)
BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) today provides an update on its Product Services’ (“BW Product Services”) Q2 2024 segment performance. For the quarter ended 30 June 2024, BW Product Services reported an estimated gross profit of approximately USD 26 million. Gross profit represents the realised trading profit plus net derivative gains and losses from open cargo contracts and hedging transactions.
After general and administrative expenses and income taxes, BW Product Services made an estimated net profit of approximately USD 16 million for the quarter.
In Q1 2024, the Board of BW Product Services approved a USD 30 million share capital reduction which was finalised during Q2 2024. Post capital reduction, BW Product Services reported a book equity of approximately USD 68 million for the quarter ended 30 June 2024.
The average Value-At-Risk (VAR) for the quarter was approximately USD 5 million.
BW LPG will release its Q2 2024 financial report on 22 August 2024.
For further information, please contact:
Kristian Sørensen
Chief Executive Officer
Samantha Xu
Chief Financial Officer
E-mail: investor.relations@bwlpg.com
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at https://www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.