BW LPG Limited Provides Q3 2025 Update on Product Services Segment Performance
BW LPG Limited (“BW LPG” or the “Company”, OSE: BWLPG.OL, NYSE: BWLP) today announced an update on the performance of its Product Services segment (“BW Product Services”) for the third quarter ending 30 September 2025.
During Q3 2025, BW Product Services achieved a realised gain of USD 15 million from its portfolio of cargo, freight, and hedging transactions. This reflects the Company’s continued focus on disciplined trading and risk management strategies, despite ongoing market volatility.
However, after accounting for the unrealised mark-to-market impact of open cargo contracts and hedging positions, which amounted to a negative USD 39 million, the segment reported a gross trading result of approximately minus USD 24 million for the quarter. Following deductions for general and administrative expenses and income taxes, BW Product Services’ net estimated result for Q3 2025 stood at approximately minus USD 30 million.
The segment’s average Value-at-Risk (VaR) for the quarter was around USD 5 million, reflecting a measured exposure to market movements while maintaining a robust risk management framework.
Kristian Sørensen, Chief Executive Officer of BW LPG, commented on the results: “We are pleased to report a continued strong realised trading performance of USD 15 million in Q3, bringing the year-to-date realised trading result to approximately USD 54 million. This outcome demonstrates the strength and resilience of our trading operations even amid challenging market conditions.”
Sørensen added, “While the mark-to-market valuation of our forward trading portfolio was negatively affected this quarter due to turbulent market dynamics, the underlying portfolio remains net positive. This underscores the effectiveness of our active risk management and disciplined trading approach implemented by the BW Product Services team. Our primary objective remains the delivery of positive realised trading results, which form the foundation for BW Product Services’ capacity to support dividend distributions to shareholders.”
BW LPG emphasized that fluctuations in mark-to-market valuations are a natural aspect of forward trading and hedging activities and should be expected in light of ongoing macroeconomic uncertainties and market volatility. Nevertheless, the Company remains committed to transparency and proactive management of its portfolio, ensuring that realised gains continue to contribute meaningfully to its financial performance.
The Company will release its full Q3 2025 financial report on 2 December 2025, which will provide comprehensive details on segment results, market developments, and strategic initiatives undertaken during the period.
