Targets and Performance

Tables and charts our seafarers require to plan the safe delivery of cleaner energy to world markets

Responsible and transparent business practices

Which uphold our Vision, Purpose and Core Values and contribute to the UN Sustainable Development Goals.

Download our Sustainability Report

Environmental performance dashboard

Short-term Emission Targets

Carbon Intensity Indicator (CII) Target*

* Aligned with IMO GHG CII Targets Against 2019 Baseline

Long-term Emission Targets
BW LPG Fleet Towards Net-Zero Carbon Emissions

One step at a time in our decarbonisation journey

Click to see image

Environmental Performance Dashboard

Sustainability Priority Climate Change Emissions and Energy Protecting Biodiversity
UNSDG Goal
2023 Targets
  • Commitment to achieve IMO’s Initial GHG emission reduction goals
  • By 2030 we will only have newbuildings that can achieve net-0 carbon emission during its lifetime
  • Fleet in compliance with EEXI requirements
  • Fleet to have a CII rating of "C" or better
  • 100% compliance with the Ballast Water Management Convention
  • Complete Ballast Water treatment system installation /upgrade on all owned and BW LPG India fleet by end 2023
  • 100% compliance with all MARPOL conventions.
  • No oil spills
  • 100% of all ship recycling projects to be done with shipyards that operate in compliance with the Hong Kong Convention and certified to ISO 30000
2023 Progress
  • Revision of the company’s decarbonisation roadmap to incorporate new business activities along the value chain
  • Review of the revised IMO 2023 GHG strategy
  • Established an Ammonia Task Force to explore potential opportunities in the segment for next generation VLGCs and commercial opportunities
  • Continued exploration sustainable investment in technology and fuels for net-0 emissions in LPG shipping

 

  • Received approval for all vessel EEXI technical files
  • Overall fleet carbon intensity achieved C rating
  • Continued optimisation and operation of our LPG-propulsion vessels to limit our emission footprint
  • Use of LPG as bunker fuel translates into >US$11million in fuel savings and ~28,000 tonnes reduction in CO2 emissions
  • LPG Dual-Fuel Engine uptime steadily increased within the year as we increase our target by 3.2% for 2024 compared to 2023
  • Enhanced IT capabilities to support new emissions-related compliance requirements (CII, EU ETS and FuelEU Maritime)
  • Achieved overall 2,535 MT of bunker savings over 278 voyages through weather routing

 

  • 100% of owned and operated vessels installed/upgraded ballast water treatment systems for treatment of invasive species during ballast operations
  • Zero non-compliance with the Ballast Water Management Convention and MARPOL conventions
  • Zero oil spills
  • No vessels were recycled in 2023

 

2024 Targets
  • By 2030, we will only have newbuildings that can achieve net-zero emissions during its lifetime
  • BW LPG Fleet towards Net-zero carbon emissions by 2050

 

  • All owned vessels to attain “C” or better rating under CII
  • Average LPG dual fuel uptime above 85%
  • Achieve overall net positive savings in fuel from weather routing

 

  • Full compliance with the Ballast Water Management convention
  • Full compliance with all MARPOL conventions
  • No spills of oil at sea
  • All ship recycling projects to be done with shipyards certified to ISO 30000 and Hong Kong Convention

 

Social Performance Dashboard

Sustainability Priority Working Environment Talent Management
UNSDG Goal
2023 Targets
  • Zero crew and contractor fatalities at sea and on shore while at work.
  • Lost Time Injury Rate ≤ 0.5.
  • Total Recordable Case Frequency ≤ 1.5
  • Diversity of nationalities with ± 15% variance in gender

 

  • Investment into training, upgrading and upskilling programs
  • Have at least 2 interns/trainees in our industry exposure program to encourage and groom maritime talent

 

2023 Progress
  • Zero employee, crew and contractor fatalities at sea and on shore while at work
  • Lost Time Injury Frequency: 0.16
  • Total Recordable Case Frequency: 0.16
  • Successfully rolled out the Safer Together Program – a new health and safety initiative to train, share and prevent incidents related to safety and health at the workplace
  • Continued tracking and sharing of HiLo analysis, training and audits, regular safety briefings and emergency response drills
  • Installation of Starlink to internally managed vessels to improve ship-shore communication
  • Established the Working Environment Committee to annually assess and evaluate the arrangements with regards to physical and psychosocial working environment when working from home in collaboration with BW Group
  • Zero cases of discrimination and harassment
  • Female (41%) : Male (59%) diversity ratio and 17 Nationalities, variance as a result of organisational changes
  • Attained 93% participation and 81% satisfaction result on Employee Pulse survey
  • BW recognised by Forbes as the World’s Best Employer 2023
  • Established a dedicated inhouse fleet manager enabling independent support for LPG talent pool
  • Collaborated with BW Group in a talent management initiative to have a common platform to offer opportunities to all BW colleagues and build the BW Group’s Career website
  • Participated in school outreach programmes at tertiary education centres and hosted a physical engagement session with students in the office with the larger BW Group
  • 36 shore colleagues attained the value negotiation, voyager training and explorer leadership development programs to build their soft skills
  • 2 interns/trainees in our industry exposure program

 

2024 Targets
  • Diversity of nationalities, with ± 15% variance in employee gender
  • Zero cases of discrimination and harassment
  • Zero crew, employee and contractor fatalities while at work
  • Whole fleet LTIF ≤ 0.5, TRCF ≤ 1.5

 

  • Investment into training, upgrading and upskilling programs
  • Have interns / trainees in our industry exposure program to encourage and groom maritime talent
  • Develop opportunities to work between offices and enhance collaboration

 

Governance Performance Dashboard

Sustainability Priority Business Conduct Effective Management Supply Chain
UNSDG Goal
2023 Targets
  • Zero non-compliance with laws and regulations
  • Enhance ABAC communication to all crew and employees through updated trainings
  • At least one event to raise awareness of latest developments in areas of operation
  • Continue to monitor and improve shore to ship communications to support our crew

 

  • Zero detentions
  • Increase collaboration with industry bodies
  • Maintain ISO certifications
  • On-time and on budget project execution
  • Efficient utilisation of available capital to generate additional profits
  • Outperform peers in TCE, OPEX and ROE
  • Continuous improvement in ESG efforts

 

  • 100% of Top suppliers audited on ESG practices
2023 Progress
  • Zero non-compliance with laws and regulations
  • Zero facilitation payments made and no monetary loss as a result of legal proceedings
  • Raised awareness through 2 Senior Officers Conference
  • MACN physical training session conducted in Singapore for ABAC representatives
  • Installation of Starlink to enhance ship-shore communication
  • There were no reported cases of misconduct in 2023
  • There were no political contributions in the past 3 years
  • The Group was not involved in any legal proceedings associated with anti-competition practices and had zero reported cases of misconduct in 2023

 

  • Zero detentions in the last three years
  • Enhanced internal IT capabilities with two new permanent headcount and restructuring of data and reporting solutions
  • Zero major cybersecurity incidents or data breaches in 2023
  • Participation/speaking engagement at 5 industry events
  • Maintained ISO certifications
  • Projects executed within timelines and budget
  • 96% fleet utilisation in 2023, up from 93% in 2022
  • US$61.6K TCE per calendar day in 2023, up from US$40.6K in 2022
  • Established a Joint venture for the development of one LPG import terminal
  • Improved ESG ratings and increased communication

 

  • In collaboration with BW Group, we will make a combined effort to contract an ESG provider platform for auditing of all suppliers
2024 Targets
  • Zero non-compliance with international Maritime regulations, international and regional laws
  • Actively promote awareness at sea and in offices for zero tolerance to bribery, facilitation, and corruption
  • Host online and onsite campaigns to promote ABAC awareness at sea and in offices

 

  • Deliver new data management platform and select strategic projects
  • Expand internal IT standards, and enhance data protection and handling capacity
  • Reinforce compliance with all applicable regulatory frameworks

 

  • In collaboration with BW Group, we will make a combined effort to contract an ESG provider platform for auditing of all suppliers

Executive Remuneration

BW LPG has an extensive Compensation Policy to ensure competitiveness, equitable rewards, and quality across all company positions while ensuring consistent handling of terminations. Individual remuneration is influenced by factors including reemployment regulations and market conditions, position, performance, and competence. The company is dedicated to equitable pay, irrespective of personal beliefs or individual characteristics. A salary review process is in place, with HR staff assisting line managers in determining fair and impartial salary increases and conducting a global analysis to ensure alignment with the fair pay approach.

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