BW LPG tjente 140 mill. dollar på driften i andre kvartal

BW LPGGassfraktrederi, a Norwegian company listed on Oslo Børs and Wall Street, reported its financial results for the second quarter of the year. The company operates around 50 VLGC (Very Large Gas Carrier) vessels and has a trading business. The company's market value stands at approximately 35 billion kroner. During the quarter, analysts had expected earnings after tax of 182.2 million dollars, TCETime Charter Equivalent.

The company's freight income from its fleet of ships was compared against operating expenses such as bunkers, docking fees, and provisions, making the income figures comparable regardless of whether the ships operated on a spot market or time charter basis. The company generated 313 million dollars in revenue and reported a profit of 202 million dollars, according to Bloomberg. The dividend payout for each share was 0.95 dollars, slightly below the expected 0.98 dollars per share, according to Bloomberg.

For the third quarter, 92 percent of the available fleet days were booked at an average rate of around 88,000 dollars per day, including a fixed time charter covering 41 percent to 44,300 dollars per day. For the second half of 2026, the company secured 41 percent of the fleet capacity on time charter contracts with a fixed rate of 44,100 dollars per day, as well as an additional 4 percent through Forward Freight Agreements (FFA).

These agreements allow the company to lock in freight rates for a specific period without entering into a physical charter agreement.

Fearnley Securities analyst Fredrik Dybwad increased the target price for the company's shares to 266 kroner from 235 kroner, maintaining a "buy" recommendation. He cited the ongoing shipping disruptions in the Middle East and concerns over Panama Canal restrictions as factors driving the optimism. Dybwad also adjusted his 2027 earnings estimates due to persistent demand pressures and ongoing trade disruptions, which could allow the company to capture most of the arbitrage opportunities for propane between the US and Asian markets.