BW LPG Limited: Business Overview, Financials & Competitive Analysis
BW LPG Limited, headquartered in Singapore, is the world's largest owner and operator of very large gas carriers (VLGCs) that transport liquefied petroleum gas (LPG). The company transports LPG worldwide, serving majo...
Cyborg Score thesis
Market-leading LPG shipping operator generating strong cash returns and expanding fleet with environmental advantages in a...
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Get Current Report FreeBW LPG Limited Overview
Pro stress-test →BW LPG Limited, headquartered in Singapore, is the world's largest owner and operator of very large gas carriers (VLGCs) that transport liquefied petroleum gas (LPG). The company transports LPG worldwide, serving major oil majors, trading houses, and national oil companies under a mix of spot voyages, time charters, and contracts of affreightment.
Strategic Profile
Pro stress-test →At the end of 2025, the group operated a fleet of 54 Very Large Gas Carriers (VLGC). The company pioneered initiatives in LPG propulsion technology, which significantly reduce greenhouse gas emissions from their fleet. In August 2024, the Group entered into agreements to acquire 12 VLGCs from Avance Gas for a total consideration of US$1,050 million, with all vessels successfully delivered before the end of 2024.
Competitive Landscape
Pro stress-test →BW LPG operates in the specialized LPG shipping sector with limited direct competition due to high barriers to entry and capital requirements. Key competitors include Avance Gas, Dorian LPG, and Gaslog, which operate similarly sized VLGC fleets. The consolidated market structure supports pricing power for fleet operators managing global LPG distribution.
Industry Context
BW LPG Limited operates in Tanker Shipping.
Key facts
Founded: 1935 · Headquarters: Singapore, Singapore · Employees: 1,500 · Revenue: $3.53B (trailing twelve months) · Market cap: $3.74B (as of October 15, 2026)