First take based on preliminary data
Shipping avg $38,850/available day ($37,280/calendar day) - good, not great
Div of 22c/sh (Q1 div was 28c/sh)
Will dive in when I see more data
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Had a chance to look at the presentation materials. There are some additional points and thoughts
Q2 2025 had 139 days of off-hire. Q3 and Q4 2025 have 143 and 135 days planned respectively (about the same each of the qtrs).
China had been a big importer of US LPG until Apr 2025 (“month of Liberation Day”), but has since reduced US imports.
Q3 2025 looking really good ~ $53,000 daily with 90% done
Financing was completed subsequent to end of Q2 2025 (For both BWLP and subsidiary BW LPG (India))