EnergyWatch

BW LPG's profit takes big dive in 2016

Gas carrier BW LPG finished 2016 with a bottom line ten times lower than in 2015, due to the overall weaker LPG market. Management expects that the market will improve around a year from now.

Oslo-listed gas carrier BW LPG, based in Singapore, exited 2016 with significantly reduced revenue and earnings compared to the year before, as was the case for the carrier's peers in the previously lucrative but now strained market for liquefied petroleum cargoes.

Revenue dropped from USD 773 million in 2015 to USD 506 million in 2016, while earnings went from USD 326 million to USD 23 million in 2016, according to the carrier's annual report, published Monday.

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