VLGC shipowner and operator BW LPG has secured three-year time charter-out contracts for two of its VLGCs, BW Tucana and BW Yushi.
BW LPG with over 50 VLGCs, including 22 vessels powered by LPG dual-fuel propulsion technology, sealed the deals for the 2016-built, 84,113 cbm BW Tucana and the 2020-built, 83,315 cbm 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 $43,500 per day for 2026.
BW LPG said that, 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 fourth quarter of 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.”
BW LPG is associated with BW Group, a 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 450 vessels (200 LNG and LPG ships) transporting oil, gas and dry commodities.
