VLGC owner BW LPG has shown it can make massive profits in soft freight markets after announcing a hugely improved performance from its gas trading division.
It said BW Product Services has racked up an estimated gross profit of $71m in the third quarter, up from $26m in the previous three months.
This was mainly a result of $86m of unrealised marked-to-market open cargo contracts and hedging transactions, as well as realised trading gains of $16m.
