Three related entities report 7.99% stake in BW LPG (BWLP)

Rhea-AI Filing Summary

BW LPG Limited amendment discloses beneficial ownership by three related entities. Hemen Holding Limited, Greenwich Holdings Limited and C.K. Limited each report shared ownership of 12,093,378 ordinary shares, representing 7.99% of the class. The filing cites 151,342,653 ordinary shares outstanding as of December 31, 2025. The disclosure states C.K. Limited is trustee of two trusts that indirectly hold the shares of the other two entities and includes a settlor/beneficiary disclaimer regarding Mr. Fredriksen.

Insights

Corporate Governance Analyst

Disclosure clarifies ownership structure and shared voting/dispositive power.

The amendment reports that three related entities each hold 12,093,378 shares with shared voting and dispositive power, ensuring transparent public record of a near-8% stake. The filing ties the figures to the issuer's filings showing 151,342,653 shares outstanding as of December 31, 2025.

Key dependencies include the trust structure: C.K. Limited acts as trustee for trusts that control the other entities. Subsequent filings could further clarify any changes in control or voting arrangements.

Securities/Compliance Specialist

Amendment is a routine beneficial-ownership update consistent with Schedule 13G/A practice.

The filing documents shared power to vote and dispose of 12,093,378 shares for each reporting entity and attaches a joint filing agreement. It references issuer filings to establish the as of outstanding-share figure.

Compliance note: the trustee disclosure and settlor disclaimer are material for attribution; investors and registrars rely on this language when assessing control. No trading or proceeds information is included.

Key Figures

Shares held per entity: 12,093,378 shares Percent of class: 7.99% Shares outstanding: 151,342,653 shares

3 metrics

Shares held per entity 12,093,378 shares Amount beneficially owned by each reporting entity

Percent of class 7.99% Percent of ordinary shares represented by 12,093,378 shares

Shares outstanding 151,342,653 shares Ordinary shares issued and outstanding as of December 31, 2025

Key Terms

Beneficially own, Shared Dispositive Power, Trustee

3 terms

Beneficially own regulatory

"Amount beneficially owned: Hemen Holding Limited - 12,093,378"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Shared Dispositive Power regulatory

"Shared Dispositive Power 12,093,378.00"

Trustee legal

"C.K. Limited is the trustee of two trusts (the "Trusts")"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BW LPG Limited

(Name of Issuer)

Ordinary Shares, no par value

(Title of Class of Securities)

Y10230103

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): Y10230103

1

Names of Reporting Persons

Hemen Holding Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CYPRUS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,093,378.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,093,378.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,093,378.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.99 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: * Based on the Issuer's Form 6-K, which was filed with the U.S. Securities and Exchange Commission (the "Commission") on March 31, 2026, there were 151,342,653 ordinary shares of the Issuer, no par value (the "Ordinary Shares"), issued and outstanding as of December 31, 2025.

SCHEDULE 13G

CUSIP Number(s): Y10230103

1

Names of Reporting Persons

Greenwich Holdings Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CYPRUS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,093,378.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,093,378.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,093,378.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.99 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: * Based on the Issuer's Form 10-K, which was filed with the Commission on March 31, 2026, there were 151,342,653 Ordinary Shares issued and outstanding as of December 31, 2025.

SCHEDULE 13G

CUSIP Number(s): Y10230103

1

Names of Reporting Persons

C.K. Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JERSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,093,378.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,093,378.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,093,378.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.99 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: * Based on the Issuer's Form 10-K, which was filed with the Commission on March 31, 2026, there were 151,342,653 Ordinary Shares issued and outstanding as of December 31, 2025. ** C.K. Limited is the trustee of two trusts (the "Trusts") that indirectly hold all of the shares of Greenwich Holdings Limited and Hemen Holding Limited Accordingly, C.K. Limited, as trustee, may be deemed to beneficially own the Ordinary Shares of the Issuer that are beneficially owned by Greenwich Holdings Limited. Mr. Fredriksen established the trusts for the benefit of his immediate family. He is neither a beneficiary nor a trustee of either Trust. Therefore, Mr. Fredriksen has no economic interest in such Ordinary Shares and disclaims any control over such Ordinary Shares, save for any indirect influence he may have with C.K. Limited, as the trustee of the Trusts, in his capacity as the settlor of the Trusts.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BW LPG Limited
(b)	Address of issuer's principal executive offices: c/o BW LPG Holding Pte Ltd, 10 Pasir Panjang Road, #17-02 Mapletree Business City, Singapore 117438
Item 2.
(a)	Name of person filing: Hemen Holding Limited Greenwich Holdings Limited C.K. Limited
(b)	Address or principal business office or, if none, residence: Hemen Holding Limited Deana Beach Apartments Block 1, 4th Floor 33 Promachon Eleftherias Street Ayios Athanasios, 4103 Limassol, Cyprus Greenwich Holdings Limited Deana Beach Apartments Block 1, 4th Floor 33 Promachon Eleftherias Street Ayios Athanasios, 4103 Limassol, Cyprus C.K. Limited JTC House 28 Esplanade, St. Helier Jersey, Channel Islands JE4 2QP
(c)	Citizenship: Hemen Holding Limited - Cyprus Greenwich Holdings Limited - Cyprus C.K. Limited - Jersey
(d)	Title of class of securities: Ordinary Shares, no par value
(e)	CUSIP No.:
Item 4.	Ownership
(a)	Amount beneficially owned: Hemen Holding Limited - 12,093,378 Greenwich Holdings Limited - 12,093,378 C.K. Limited - 12,093,378
(b)	Percent of class: Hemen Holding Limited - 7.99% Greenwich Holdings Limited - 7.99% C.K. Limited - 7.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Hemen Holding Limited - 0 Greenwich Holdings Limited - 0 C.K. Limited - 0
	(ii) Shared power to vote or to direct the vote: Hemen Holding Limited - 12,093,378 Greenwich Holdings Limited - 12,093,378 C.K. Limited - 12,093,378
	(iii) Sole power to dispose or to direct the disposition of: Hemen Holding Limited - 0 Greenwich Holdings Limited - 0 C.K. Limited - 0
	(iv) Shared power to dispose or to direct the disposition of: Hemen Holding Limited - 12,093,378 Greenwich Holdings Limited - 12,093,378 C.K. Limited - 12,093,378
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hemen Holding Limited

Signature:	/s/ Christakis Theodoulou
Name/Title:	Christakis Theodoulou, Director
Date:	04/13/2026

Greenwich Holdings Limited

Signature:	/s/ Christakis Theodoulou
Name/Title:	Christakis Theodoulou, Director
Date:	04/13/2026

C.K. Limited

Signature:	/s/ Christakis Theodoulou
Name/Title:	Christakis Theodoulou, Director
Date:	04/13/2026

Exhibit Information

Joint Filing Agreement

FAQ

Who reported the 7.99% holdings in BWLP?

Hemen Holding, Greenwich Holdings, and C.K. Limited each reported 12,093,378 shares, representing 7.99% of ordinary shares, per the amendment. The entities filed jointly and signed by a director on April 13, 2026.

What is the total share count for BWLP used in the percentage calculation?

The filing cites 151,342,653 ordinary shares outstanding as of December 31, 2025. That figure is the basis for the disclosed 7.99% ownership percentages in the amendment.

How do the entities exercise voting and disposition rights?

Each reporting entity lists 0 sole voting/dispositive power and 12,093,378 shared voting and dispositional power, indicating shared control rather than sole control over those shares.

What role does C.K. Limited play in the ownership structure?

C.K. Limited is identified as trustee of two trusts that indirectly hold all shares of Greenwich and Hemen, and thus may be deemed to beneficially own the shares held by those entities, per the amendment.

Does Mr. Fredriksen have economic interest or control over the shares?

The filing states Mr. Fredriksen established the trusts but is neither a beneficiary nor a trustee; it further states he has no economic interest and disclaims control, aside from any indirect influence as settlor.