OREANDA-NEWS. BW LPG, a subsidiary of BW Group, estimated its VLGC fleet will be contracted for 3,088 revenue days in the third quarter, up from 2,977 days in the second.

An estimated 32pc of that time is in time charter contracts, up from only 27pc in the prior period.

Large gas carriers (LGC) will likely be contracted for a total of 460 days this quarter, up from 455 during the prior period.

VLGC rates in the western hemisphere are currently elevated amid a lack of spot fixture availability in the region, according to market participants.

BW LPG owns and operates 39 gas carriers and has another 588,000 cbm of capacity on order with shipyards in Korea.