BWLLY - BW LPG: VLGC Spot Rates Are Tanking
2024-01-31 10:30:00 ET
Summary
- BW LPG may report weaker than expected earnings for Q1 2024 due to the recent decline in VLGC spot rates.
- The company is pursuing a main listing in the US and expects to complete the process in Q2.
- BW LPG has shown strong financial performance, with increased EBITDA and net income, and substantial free cash flow, but current charter rates will have a negative impact.
Introduction
BW LPG ( OTCPK:BWLLY ) ( OTCPK:BWLLF ) owns and operates gas carriers. The majority of its fleet consists of the large VLGCs which have performed very well in the past six quarters . However, the VLGC spot rates recently tanked and BW LPG will likely report weaker than expected earnings for Q1 2024 if the current situation persists....
BW LPG: VLGC Spot Rates Are Tanking