BW LPG (NYSE: BWLP) secures 3-year VLGC charters, lifts 2026 coverage

Rhea-AI Filing Summary

BW LPG Limited has signed three-year time charter-out contracts for two Very Large Gas Carriers, BW Tucana and BW Yushi. These period charters began in January 2026 and lift fixed-rate time charter-out coverage to about 35% of fleet capacity, at an average rate of roughly USD 43,500 per day for 2026.

The company notes that coverage levels and average hire rates may change as it continues negotiations on renewing other time charters, with an update expected by the Q4 2025 earnings release. Management says this supports its strategy to move toward around 40% coverage, aiming for more stable earnings while still keeping meaningful spot exposure.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2026.

Commission File Number: 001-42008

BW LPG Limited

(Translation of registrant’s name into English)

c/o BW LPG Holding Pte Ltd

10 Pasir Panjang Road,

#17-02 Mapletree Business City, Singapore

117438

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

DOCUMENTS TO BE FURNISHED AS PART OF THIS FORM 6-K

Exhibit Number		Exhibit Description
99.1		Press release of BW LPG Limited dated February 9, 2026 – BW LPG Limited secures three-year time charter-out contracts for two VLGCs

1

SIGNATURES 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BW LPG Limited
	By:	/s/ Samantha Xu
	Name:	Samantha Xu
	Title:	Chief Financial Officer

Date: February 9, 2026

2

Exhibit 99.1

BW LPG Limited secures three-year time charter-out contracts for two VLGCs

Singapore, 9 February 2026

BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code: “BWLP”) is pleased to announce that it has entered into three-year time charter-out contracts for two of its VLGCs, BW Tucana and BW Yushi. The period charters commenced in January 2026, increasing the fixed-rate time charter-out coverage to approximately 35% of the fleet capacity with an average rate of about USD 43,500 per day for 2026. Due to ongoing negotiations regarding the renewal of current time charters, the coverage level and average hire rates are subject to change prior to the Q4 2025 earnings release.

Kristian Sørensen, Chief Executive Officer, commented: “We are pleased to have secured two additional three-year time charters at solid levels, consistent with our communicated strategy of increasing coverage to approximately 40% of our fleet capacity through period charters and/or FFAs. BW LPG continues to strengthen its commercial platform with improved earnings visibility and robust downside protection while maintaining considerable spot exposure to a growing VLGC market.”

For further information, please contact:

Kristian Sørensen

Chief Executive Officer

Samantha Xu

Chief Financial Officer

E-mail: investor.relations@bwlpg.com

About BW LPG

BW LPG is the world’s leading owner and operator of LPG vessels, with a fleet of more than 50 Very Large Gas Carriers (VLGCs), including 22 vessels powered by LPG dual-fuel propulsion technology. Building on over five decades of LPG shipping experience, the company is strengthened by an in-house LPG trading division and the commercial expertise to explore investments in value chain assets. Together, these capabilities enable BW LPG to provide trusted and reliable services for sourcing and delivering LPG to customers worldwide.

Delivering energy for a better world – more information about BW LPG can be found at www.bwlpg.com

BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, and water treatment.

FAQ

What contracts did BWLP BW LPG announce in this 6-K filing?

BW LPG announced three-year time charter-out contracts for two VLGCs, BW Tucana and BW Yushi. The charters commenced in January 2026 and are fixed-rate, contributing to more predictable earnings from a portion of the fleet while leaving the rest exposed to the spot market.

How do the new charters affect BWLP BW LPG’s fleet coverage for 2026?

The new three-year charters increase BW LPG’s fixed-rate time charter-out coverage to about 35% of fleet capacity for 2026. This means over a third of its capacity has contracted daily rates, helping stabilize revenue compared with full exposure to volatile spot freight markets.

What average daily rate did BWLP BW LPG secure for these VLGC charters?

For 2026, BW LPG indicates the average rate from its fixed-rate time charter-out coverage is about USD 43,500 per day. This reflects the pricing level for the contracted VLGC capacity and forms part of the company’s effort to secure solid period rates in the current market.

Can BWLP BW LPG’s coverage and hire rates change after this announcement?

Yes. BW LPG states that fixed-rate coverage levels and average hire rates are subject to change because it is still negotiating renewals of existing time charters. Updated coverage and rate details are expected to be communicated in conjunction with the company’s Q4 2025 earnings release.

What strategic goal does BWLP BW LPG highlight regarding fleet coverage?

BW LPG reiterates a strategy of increasing coverage to roughly 40% of fleet capacity using period charters and forward freight agreements. Management believes this mix enhances earnings visibility and downside protection while retaining significant spot exposure to benefit from a growing VLGC shipping market.

How large is BWLP BW LPG’s fleet and what technology do some ships use?

BW LPG describes itself as the world’s leading owner and operator of LPG vessels, with a fleet of more than 50 VLGCs. Of these, 22 vessels are powered by LPG dual-fuel propulsion technology, which can offer efficiency and emissions advantages compared with conventional marine fuel engines.