Time charter equivalent(TCE) earnings of $100.4m were nearly double those of a year ago, as VLGC TCErates averaged $32,700 pd versus $20,500 pd in the first quarter of 2013.
BW LPG said theimproved performance was helped by the full deployment in the first quarter ofthe fleet acquired from Maersk.
The increase waspartially offset by a decrease of $3.5m in TCE income from the LGC segment,resulting from technical off-hire and commercial waiting time.
BWLPG
