2019 IN NUMBERS
FINANCIAL
PERFORMANCE
TCE income
US$547
million
EBITDA
US$399
million
Dividend
per share
US$0.85
FINANCIAL
POSITION
US$39
million
Proceeds from vessel divestments
Strong liquidity runway
US$294
million
in undrawn facility
and liquid cash
Strong credit profile
All-in cost of debt
1.8% + LIBOR
ENVIRONMENTAL PERFORMANCE
Commitment to retrofit 12 vessels with pioneering LPG dual-fuel propulsion technology
Spills
to sea
0
Waste landed ashore
1,188.5M3
1,620.8M3 (2018)
COMMERCIAL PERFORMANCE
Spot TCE
US$39,100 per day
VLGC spot exposure
86%
Commercial utilisation
95%
of commercially available days
OPERATIONS AND SAFETY
TRCF
Baseline
1.5
TRCF BW LPG
0.89
Cargo carried by BW LPG in 2019
12,281,762
metric tons
Fatalities
0
MARKET REVIEW
Increased US
- Far East LPG
price spread
US$129 per
metric ton (2019)
US$64 per metric ton (2018)
Improved VLGC Time Charter
Equivalent
VLGC TCE:
US$35,000
per day (2019)
US$18,400 per day (2018)
Increased North America LPG exports
40.2 million
metric tons (2019)
32.7 million metric tons (2018)
Growth rate:
23% YoY
VLGC fleet
growth
6.4% YoY
VLGC ton-mile
growth
13% YoY
Strong imports driven by
Far East and Southeast Asia
Far East:
3.7 million
metric tons
increase highest growth in import volumes
Southeast Asia:
21.4%
increase YoY highest growth rate
