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# BW LPG’s third-quarter gas-trading result tops entire first half
- URL: https://www.southeastasiaconnect.com/bw-lpg-product-services-q3-realised-trading-valuation-gains/
- Published: 2026-10-20T07:54:36.000Z
- Updated: 2026-10-20T11:22:19.000Z
- Description: The Singapore group’s third-quarter realised trading result contributed about 56% of its nine-month total; estimated division net profit was US$118m.
- Author: Southeast Asia Editorial Team
- Tags: News, #google-news, Singapore, Energy

Singapore-based gas shipper and trader [BW LPG](https://www.bwlpg.com/?ref=southeastasiaconnect.com) generated a US$146 million realised trading result in the third quarter, exceeding the implied total for the first six months of 2026\. The performance concentrates more than half of its nine-month trading result in a single quarter of volatile liquefied petroleum gas markets.

The company’s 19 October update puts the year-to-date realised result for its Product Services division at approximately US$263 million. Subtracting the third-quarter figure gives about US$117 million for the first half. On those rounded numbers, the latest quarter contributed roughly 56% of the nine-month total and was about 25% above the first-half result.

The US$146 million came from cargo, freight and hedging transactions. Product Services trades the gas as well as arranging its delivery, adding a source of earnings beyond the group’s core vessel operations. BW LPG describes the business as combining physical cargo, shipping and derivative positions to trade price differences between geographical markets.

Liquefied petroleum gas, or LPG, is principally propane and butane. The division’s commercial activity spans buying the commodity, transporting it and managing exposure to price movements. Its quarterly result therefore reflects that combined trading portfolio, rather than freight earned by gas carriers alone.

Unrealised gains also lifted the quarter’s reported result. Positive valuation movements of US$18 million on open cargo contracts and hedges brought the gross trading result to approximately US$164 million. These changes in the value of open positions are separate from the US$146 million realised result used in the first-half comparison.

After administrative expenses and income taxes, the division estimated net profit of US$118 million for the quarter ended 30 September. That is a segment estimate, not BW LPG’s final group profit. The company said average value-at-risk, a measure of trading exposure rather than a recorded loss, was approximately US$18 million amid heightened volatility.

Chief executive Kristian Sørensen attributed the division’s ability to capitalise on market conditions to active risk management. The segment figures will feed into BW LPG’s third-quarter group results, scheduled for 24 November.

**Sources:** [BW LPG segment disclosure, 19 October 2026](https://www.bwlpg.com/bw-lpg-limited-update-on-bw-lpgs-product-services-q3-2026-segment-performance/?ref=southeastasiaconnect.com); [BW LPG Product Services](https://www.bwlpg.com/about/our-business/product-services/?ref=southeastasiaconnect.com); [BW LPG gas-carrier background](https://www.bwlpg.com/media/media-gallery/?ref=southeastasiaconnect.com).