BW LPG saw a first-quarter loss in its gas trading division, citing “unprecedented market conditions”.
The US and Oslo-listed company reported negative results for BW Product Services.
It achieved a realised gain of $33m from cargo and freight operations.
After accounting for the unrealised mark-to-market change of negative $36m from its open cargo contracts and hedging transactions, the Singapore VLGC owner ended the quarter with a $3m gross trading loss.
