Adapting to our changing world requires an understanding that success as a company must be defined by more than the bottom line. It is also about creating value for society – making people’s lives better, enabling economies to grow, and protecting the environment for future generations. By embedding sustainability into our business strategy and operations, we will not only create a better company but a better world.
For BW LPG to play this role in society, we also need to be financially sustainable. Our economic strategies therefore have a dual objective: to achieve good financial results while incorporating environmental and social considerations, and to ensure long-term sustainability of our business and operations.
Our Return on Equity (ROE) performance is measured on a quarterly basis and reported in a transparent manner to our investors during our earnings release. Time Charter Equivalent (TCE), a standard industry performance measure for earnings, is monitored daily and guides our commercial strategy. We regularly benchmark against the Baltic Index and our peers to determine how we are performing.
Cost control is also part of our strategy as we monitor our Vessel Operational Expenditure (OPEX) monthly and benchmark against industry peers to ensure we remain competitive.