Andreas Sohmen-Pao and Martin Ackermann believe the LPG market has entered 2018 with new momentum after two tough years.

Spot rates hit the lowest level since 2009 last year and Oslo-listed BW LPG closed 2017 with a deeper than expected fourth quarter loss.

Chairman Sohmen-Pao and chief executive Ackermann said last year was a test of the company’s strategy given the very challenging year for the industry.