Singapore’s BW LPG is enjoying a healthy rate premium for the 15 VLGCs it has converted to run on LPG.

Niels Rigault, the Oslo-listed company’s executive vice president of commercial, said the investment in dual-fuel upgrades has been the biggest commitment towards decarbonisation in the sector.

He told a conference call with analysts: “We believe that LPG as a fuel is both clean and economical.”