Singapore’s BW LPG says it is pulling off the trick of buying low and selling high in strong VLGC markets.

In its fourth-quarter results, the Oslo-listed company revealed it had exercised purchase options for two chartered-in Japanese vessels: the 84,200-cbm BW Messina (built 2017) from Nissen Kaiun and 83,300-cbm BW Kyoto (built 2010) from Meiji Shipping.

“Buying vessels or building vessels in today’s market is expensive.