Clement Mullins's questions to BWLPG leadership • Q2 2025
Question
Clement Mullins of Value Investment Group inquired about purchase options on remaining time-chartered vessels, the reasons for Q3 guidance being below recent spot market trends, and the drydocking schedule for the second half of the year.
Answer
CEO Kristian Sørensen confirmed one purchase option exists for later in the decade but none are immediate. He attributed the Q3 guidance to the impact of the time charter portfolio, significant drydocking activity, and the positioning lag for vessels to capitalize on spot rate increases. He also noted six to seven more vessels will drydock in H2 2025 without any congestion issues.