Oslo-listed BW LPG saw its bottom line rise to $87.5m versus the $68.9m seen a year earlier but its numbers missed forecasts across the board.
Analysts were united in their assessment that the performance of the company’s spot trading ships was worse than expected.
Its VLGC’s recorded time charter equivelant rates of $53,600 daily, against the $65,000 per day expected.
Erik Nikolai Stavseth of Arctic Securities said: "The spot was hot, BWLPG was not”, stressing its VLGC underperformance was staggering.
Eirik
