John Dixon's questions to BWLPG leadership • Q2 2025
Question
John Dixon of PricewaterhouseCoopers asked if US political pressure on Panama Canal rates was affecting congestion and sought clarification on the Q4 outlook, specifically how the 70% of unbooked days would be impacted by sustained high spot rates.
Answer
CEO Kristian Sørensen stated that US vessel rates were not a factor in Panama Canal congestion, which is primarily driven by container ships and ethane carriers. For Q4, he confirmed that while approximately 30% of the fleet is fixed at around $45,000/day, the remaining 70% is exposed to the spot market, providing upside potential.