Bw Lpg Limited · OSL:BWLPG
Bw Lpg — Arctic Shipping Investor Day 2026
6 slides from Bw Lpg's conference presentation, Oct 22, 2026
Slide 1: Arctic Shipping Investor Day
Arctic Shipping Investor Day BW LPG Kristian Sørensen 22 October 2026
Slide 2: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR No representation, warranty or undertaking, express or implied, is made by BW LPG, its Neither this presentation nor anything contained herein shall form the basis of, or be relied IN PART
Slide 3: A world leader in the LPG shipping and commodity markets
A world leader in the LPG shipping and commodity markets World’s leading owner Maximise How we actively use and operator of VLGCs shareholder return the capital market 8x Panamax VLGC newbuildings on order with delivery 2029-2030 ~28% $1.62 Fleet acquisition via share issue 3 31 46 TC-in Annual retu
Slide 4: Increasing market inefficiencies drive shipping demand and support elevated freight rates
Increasing market inefficiencies drive shipping demand and support elevated freight rates TCE spot rates ($/day) $300 000/d US–Iran ceasefire Middle East MoU signed Increased traffic LPG exports Record-high US Longer sailing and congestion (BLPG1) significantly LPG exports distances in Panama Canal
Slide 5: Trade flows will determine how the VLGC orderbook is absorbed
Trade flows will determine how the VLGC orderbook is absorbed VLGC orderbook Delivered NB - Ammonia NB - Non-ammonia BW LPG positioning # of VLGCs 4 Business model combining 5 3 9 12 shipping and trading 3 3 2 5 5 7 12 2 11 5 4 9 9 7 9 9 8 8 3 Balanced chartering 6 6 5 5 3 3 5 3 strategy 2 2 2 1 1Q2
Slide 6: Key takeaways
Key takeaways Market dynamics Investor case Lost Middle East LPG export volumes in 2026…. Pure-play exposure to the LPG shipping and 1 commodity trading story 2 Proxy for US shale oil and NGL production and …replaced by increased LPG exports from North export growth America Return-focused Shifting L