VLGC owner and operator BW LPG has entered three-year time charter-out contracts for two of its vessels.
The deals were struck for the 2016-built, 84.612 cu m BW Tucana and the 2020-built, 83,315 cu m BW Yushi. The client was left undisclosed.
The period charters commenced in January 2026, increasing fixed-rate time charter-out coverage to approximately 35% of the fleet capacity, with an average rate of approximately $43,500 per day for 2026.
BW LPG stated 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.
“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,” said Kristian Sørensen, CEO of BW LPG.
The BW Yushi is a relatively recent addition to the company-owned fleet. The dual-listed unit of Singapore’s BW Group exercised a purchase option on the vessel for around $70m in late February last year.
