BW LPG Limited - Update on BW LPG's Product Services Q3 2025 Segment Performance
Singapore, 16 October 2025
BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSEticker code: "BWLP") today provides an update on its Product Services' ("BWProduct Services") Q3 2025 segment performance.
For the quarter ending 30 September 2025, BW Product Services achieved arealised gain of USD 15 million from our portfolio of cargo, freight andhedgingtransactions. After accounting for the unrealised mark-to-market change ofnegative USD 39 million from our open cargo contracts and hedgingtransactions,we ended the quarter with a gross trading result of approximately minus USD 24million.
After general and administrative expenses and income taxes, BW ProductServicesreported an estimated result of approximately minus USD 30 million for thequarter.
The average Value-At-Risk (VAR) for the quarter was approximately USD 5million.
BW LPG will release its Q3 2025 financial report on 2 December 2025.
Says Kristian Sørensen, Chief Executive Officer, "We are pleased to report acontinued strong realisation of USD 15 million from our trading activities inQ3, bringing the aggregated realised trading result year-to-date toapproximately USD 54 million. Despite turbulent market conditions negativelyaffecting the mark-to-market valuation of our forward trading portfolio, theportfolio remains firmly net positive thanks to active risk management by theBWProduct Services team. Our priority is delivering a positive realised tradingresult which is the driver for BW Product Services' dividend capacity,althoughmark-to-market fluctuations should be anticipated amid ongoing macrouncertainties and market volatility."
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 andoperating a fleet of more than 50 Very Large Gas Carriers (VLGCs) with a totalcarrying capacity of over 4 million CBM. With five decades of operatingexperience in LPG shipping, an in-house LPG trading division and investment inonshore LPG infrastructure, BW LPG offers trusted and reliable services tosource and deliver LPG to customers. Delivering energy for a better world -moreinformation about BW LPG can be found at https://www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involvedin shipping, floating infrastructure, deepwater oil & gas production, and newsustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleetofover 450 vessels transporting oil, gas and dry commodities, with its 200 LNGandLPG ships constituting the largest gas fleet in the world. In the renewablesspace, the group has investments in solar, wind, batteries, and watertreatment.
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