Latest news with #VeryLargeGasCarriers
The Sun
3 days ago
- Business
- The Sun
US ethane exports to China hit new road block with license requirement
SINGAPORE/HOUSTON: U.S. exporters face potential disruption to their shipments of petrochemical feedstock ethane after the Commerce Department told them to seek licenses to export to top buyer China, according to trade sources and shipping data. Chinese petrochemical producers rely on the United States for almost all their ethane imports, buying about half of the total U.S. exports of the gas. Washington ordered a broad swath of companies to stop shipping goods to China without a license and revoked licenses already granted to some suppliers, Reuters reported on Wednesday. Those goods included ethane, as well as butane gas. If U.S. exporters are unable to obtain licenses quickly, they will need to seek alternative buyers. Costs for Chinese petrochemical makers will rise as they compete for alternative sources of ethane or switch to another more expensive petrochemical feedstock such as naphtha. China imported a record 230,000 barrels per day (bpd) of ethane from the United States last year, according to the U.S. Energy Information Administration. Ethane is a byproduct of oil and gas production and is primarily used to make plastics. The exports have been caught in the trade war between the U.S. and China. Last month, China increased levies on imports of U.S. goods to 125% but waived the tariff for petrochemical producers. At least two Very Large Gas Carriers (VLGC) were waiting at U.S. ports to load ethane this week while 15 more tankers are headed to, or waiting off, the U.S. Gulf Coast, to load about 284,000 bpd of ethane in June, Kpler data showed. 'It's going to be a major issue if all exports are suspended,' said a Chinese ethane importer, who sought anonymity because he is not authorized to speak to media. 'We are cautiously watching if exporters can obtain new export licenses soon.' Petrochemical producer Ineos was scheduled to load ethane on VLGC Pacific Ineos Grenadier from Enterprise Products Partners' terminal in Morgan's Point, Texas, on May 24 for export to China, according to Kpler shipping tracking data. The ship docked on May 24 but has yet to load, according to LSEG tracking data. Enterprise, a top exporter of ethane, said in a regulatory filing on Thursday that it had received a letter from the Commerce Department on May 23 requiring a license to export ethane and butane to China. Enterprise said it was evaluating its procedures and internal controls and could not determine if it would be able to obtain a license. Enterprise and Ineos did not respond to requests for comment. The U.S. Commerce Department did not immediately respond to a request for comment. Ineos may divert the cargo to one of its European plants if it cannot ship it to China, one trade source said. The next vessel expected to load for ethane exports to China is the Stl Qianjiang, which is anchored near Energy Transfer's Nederland terminal, the data showed. That vessel is scheduled to ship ethane to Chinese petrochemical firm Satellite Chemical. Energy Transfer did not respond to requests for comment, while Satellite Chemical could not be reached for comment. 'We will continue working with the administration to ensure there are no unnecessary obstacles to these important trade flows,' said Dustin Meyer, senior vice president of Policy, Economics and Regulatory Affairs at the American Petroleum Institute trade group. 'The market disruption could be immediate,' Julian Renton, an analyst at East Daley Analytics, said in a note. Traders said there may be limited near-term impact on Chinese operators, as they have sufficient stocks to keep operations going for now. East Daley's Renton said that if the restriction holds, Chinese petrochemical plants could face critical feedstock shortfalls, while projects may stall. Shares of Enterprise were down 1.12% on Friday, while Energy Transfer shares were down 1.4%. Shares of ethane importers Satellite Chemical were down 3.1% earlier on Friday, while Wanhua Chemical stock lost 1.3%.
The Sun
3 days ago
- Business
- The Sun
US ethane exports to China face new licensing hurdles
SINGAPORE/HOUSTON: U.S. exporters face potential disruption to their shipments of petrochemical feedstock ethane after the Commerce Department told them to seek licenses to export to top buyer China, according to trade sources and shipping data. Chinese petrochemical producers rely on the United States for almost all their ethane imports, buying about half of the total U.S. exports of the gas. Washington ordered a broad swath of companies to stop shipping goods to China without a license and revoked licenses already granted to some suppliers, Reuters reported on Wednesday. Those goods included ethane, as well as butane gas. If U.S. exporters are unable to obtain licenses quickly, they will need to seek alternative buyers. Costs for Chinese petrochemical makers will rise as they compete for alternative sources of ethane or switch to another more expensive petrochemical feedstock such as naphtha. China imported a record 230,000 barrels per day (bpd) of ethane from the United States last year, according to the U.S. Energy Information Administration. Ethane is a byproduct of oil and gas production and is primarily used to make plastics. The exports have been caught in the trade war between the U.S. and China. Last month, China increased levies on imports of U.S. goods to 125% but waived the tariff for petrochemical producers. At least two Very Large Gas Carriers (VLGC) were waiting at U.S. ports to load ethane this week while 15 more tankers are headed to, or waiting off, the U.S. Gulf Coast, to load about 284,000 bpd of ethane in June, Kpler data showed. 'It's going to be a major issue if all exports are suspended,' said a Chinese ethane importer, who sought anonymity because he is not authorized to speak to media. 'We are cautiously watching if exporters can obtain new export licenses soon.' Petrochemical producer Ineos was scheduled to load ethane on VLGC Pacific Ineos Grenadier from Enterprise Products Partners' terminal in Morgan's Point, Texas, on May 24 for export to China, according to Kpler shipping tracking data. The ship docked on May 24 but has yet to load, according to LSEG tracking data. Enterprise, a top exporter of ethane, said in a regulatory filing on Thursday that it had received a letter from the Commerce Department on May 23 requiring a license to export ethane and butane to China. Enterprise said it was evaluating its procedures and internal controls and could not determine if it would be able to obtain a license. Enterprise and Ineos did not respond to requests for comment. The U.S. Commerce Department did not immediately respond to a request for comment. Ineos may divert the cargo to one of its European plants if it cannot ship it to China, one trade source said. The next vessel expected to load for ethane exports to China is the Stl Qianjiang, which is anchored near Energy Transfer's Nederland terminal, the data showed. That vessel is scheduled to ship ethane to Chinese petrochemical firm Satellite Chemical. Energy Transfer did not respond to requests for comment, while Satellite Chemical could not be reached for comment. 'We will continue working with the administration to ensure there are no unnecessary obstacles to these important trade flows,' said Dustin Meyer, senior vice president of Policy, Economics and Regulatory Affairs at the American Petroleum Institute trade group. 'The market disruption could be immediate,' Julian Renton, an analyst at East Daley Analytics, said in a note. Traders said there may be limited near-term impact on Chinese operators, as they have sufficient stocks to keep operations going for now. East Daley's Renton said that if the restriction holds, Chinese petrochemical plants could face critical feedstock shortfalls, while projects may stall. Shares of Enterprise were down 1.12% on Friday, while Energy Transfer shares were down 1.4%. Shares of ethane importers Satellite Chemical were down 3.1% earlier on Friday, while Wanhua Chemical stock lost 1.3%.
Yahoo
07-03-2025
- Business
- Yahoo
BW LPG Limited – Ex Dividend US$ 0.42 on the Oslo Stock Exchange Today
SINGAPORE, March 07, 2025--(BUSINESS WIRE)--With reference to the press release dated 27 February 2025 by BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: " NYSE ticker code "BWLP") on key information relating to the cash dividend for Q4 2024, the shares of the Company will be traded ex-dividend on the Oslo Stock Exchange from today and from 10 March 2025 on the New York Stock Exchange. About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment. This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. View source version on Contacts Samantha XuChief Financial
Yahoo
27-02-2025
- Business
- Yahoo
BW LPG Limited - Management Share Option Plan "LTIP 2022" – Award of Share Options
SINGAPORE, February 27, 2025--(BUSINESS WIRE)--The Board of Directors of BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: " NYSE ticker code "BWLP) has approved the award of share options to senior management and certain employees of the Company. This is the fourth annual award of share options under the five-year long-term management share option plan ("LTIP 2022") which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link: The total number of options that will be awarded in 2025 is 657,935. The options are awarded in connection with the publication of the quarterly report for Q4 2024. The following primary insiders of the Company have been awarded options under LTIP 2022, as further described below and in the attached forms. Kristian Sorensen, Chief Executive OfficerOptions granted in prior years: 441,294Options granted in 2025: 220,647Total options held: 661,941Shares held: 7,000 Samantha Xu, Chief Financial OfficerOptions granted in prior years: 85,000Options granted in 2025: 85,000Total options held: 170,000Shares held: 2,000 Prodyut Banerjee, Vice President and Head of OperationsOptions granted in prior years: 101,624Options granted in 2025: 50,812Total options held: 152,436Shares held: 0 Knut-Helge Knutsen, Vice President and Head of TechnicalOptions granted in prior years: 101,624Options granted in 2025: 50,812Total options held: 152,436Shares held: 0 Iver Baatvik, Vice President and Head of Corporate DevelopmentOptions granted in prior years: 75,652Options granted in 2025: 50,812Total options held: 124,464Shares held: 24,840 Leona Leo, Vice President and Head of Human ResourcesOptions granted in prior years: 0Options granted in 2025: 50,812Total options held: 50,812Shares held: 0 About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment. This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation. View source version on Contacts For further information, please contact:Samantha XuChief Financial OfficerE-mail: Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
BW LPG Limited – Key information relating to the cash dividend for Q4 2024
SINGAPORE, February 27, 2025--(BUSINESS WIRE)--BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: " NYSE ticker code "BWLP") provides the following key information relating to the Company's cash dividend for Q4 2024: The Board has approved a dividend of US$0.42 per share on 26 February 2025. Dividends payable to shares registered with Euronext VPS will be distributed in NOK, with the exchange rate made available on the day of payment. Record date: 10 March 2025 Shares registered with Euronext VPS Oslo Stock Exchange ============================================================= Last trading day including the right to receive this dividend: 6 March 2025 Ex-date: 7 March 2025 Dividend payment date: On or about 24 March 2025 Shares registered with Depository Trust Company – New York Stock Exchange ============================================================= Last trading day including the right to receive this dividend: 7 March 2025 Ex-date: 10 March 2025 Dividend payment date: On or about 19 March 2025 About BW LPG BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment. This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. View source version on Contacts For further information, please contact:Samantha XuChief Financial OfficerE-mail: Sign in to access your portfolio
