BW LPG soars on back of strong freight rates for VLGCs

Oslo-listed BW LPG has logged big second quarter gains on the back of higher freight rates and fleet utilisation for its VLGCs.

The LPG carrier owner, a spinoff of the Singapore-headquartered BW Group, said it achieved second quarter VLGC freight rates of $39,100 per day and first half daily levels of $40,700 on a high fleet utilisation of 97% for both periods.