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v3.26.1

Listing of companies in the Group | 12 Months Ended
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Dec. 31, 2025
Listing of companies in the Group |
Listing of companies in the Group | 26.Listing of companies in the Group ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ ​ ​ | ​ | ​ | ​ ​ ​ | ​ | ​ ​ ​ | Effective | ​ ​ ​ | Effective |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | equity | ​ | equity |
​ | ​ | ​ | ​ | ​ | ​ | Country of | ​ | holding | ​ | holding |
Name of companies | ​ | ​ | ​ | Principal activities | ​ ​ ​ | incorporation | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 |
(i) Subsidiary held by the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
BW LPG Holding Pte. Ltd. (formerly known as BW LPG Holding Limited) |  | ​ |  | Management |  | Singapore |  | 100 | % | 100 | %
(ii) Subsidiaries held by BW LPG Holding Pte. Ltd. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
BW LPG Technologies Pte. Ltd. |  | ​ |  | Investment holding |  | Singapore |  | 100 | % | 100 | %
BW LPG LLC |  | ​ |  | Management |  | United States |  | 100 | % | 100 | %
BW Gas LPG Chartering Pte. Ltd. |  | ​ |  | Chartering |  | Singapore |  | 100 | % | 100 | %
BW LPG Pool Pte. Ltd. |  | ​ |  | Chartering |  | Singapore |  | 100 | % | 100 | %
BW Constellation I Pte. Ltd. |  | ​ |  | Ship owning |  | Singapore |  | 100 | % | 100 | %
BW Constellation II Pte. Ltd. |  | ​ |  | Ship owning |  | Singapore |  | 100 | % | 100 | %
BW Constellation III Pte. Ltd. (formerly known as BW Seoul Pte. Ltd.) |  | ​ |  | Ship owning |  | Singapore |  | 100 | % | 100 | %
BW Okpo Pte. Ltd. |  | ​ |  | Ship owning |  | Singapore |  | 100 | % | 100 | %
BW VLGC Pte. Ltd. |  | (a) |  | Dormant |  | Singapore |  | 100 | % | 100 | %
BW LPG Kyoto Pte. Ltd. | ​ | (b) | ​ | Ship owning | ​ | Singapore | ​ | 100 | % | — | ​
BW LPG Partners Pte. Ltd. |  | ​ |  | Ship owning |  | Singapore |  | 100 | % | 100 | %
LPG Kenya Pte. Ltd. |  | (a) |  | Dormant |  | Singapore |  | 100 | % | 100 | %
BW LPG India Pte. Ltd. |  | ​ |  | Management |  | Singapore |  | 52 | % | 52 | %
Aurora LPG Holding AS |  | (c) |  | Management |  | Norway |  | — | ​ | 100 | %
BW LPG AS |  | ​ |  | Management |  | Norway |  | 100 | % | 100 | %
BW LPG Product Services Pte. Ltd. |  | (d) |  | LPG Trading |  | Singapore |  | 81 | % | 83 | %
BW LPG Infrastructure Holding Ltd | ​ | (a) | ​ | Management | ​ | United Arab Emirates | ​ | 100 | % | 100 | %
BW LPG Shipping FZCO (formerly known as BW LPG Infrastructure DMCC) | ​ | (e) | ​ | Investment in Commercial Enterprises & Management | ​ | United Arab Emirates | ​ | 100 | % | — | ​
(iii) Subsidiaries held by BW LPG Product Services Pte. Ltd. |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​
BW LPG Product Services S.L. (formerly known as Vilma Oil Trading, S.L.) |  | ​ |  | LPG Trading |  | Spain |  | 81 | % | 83 | %
Vilma Oil Singapore Pte. Ltd. |  | (a) |  | Dormant |  | Singapore |  | 81 | % | 83 | %
BW LPG Product Services (Norway) AS |  | ​ |  | Management |  | Norway |  | 81 | % | 83 | %
BW LPG Product Services USA LLC |  | ​ |  | LPG Trading |  | United States |  | 81 | % | 83 | %
(iv) Subsidiary held by BW LPG AS |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​
BW LPG Fleet Management AS |  | ​ |  | Management |  | Norway |  | 100 | % | 100 | %
(v) Subsidiary held by BW LPG India Pte. Ltd. |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​
BW Global United LPG India Private Limited |  | ​ |  | Ship owning |  | India |  | 52 | % | 52 | %
(vi) Subsidiary held by BW LPG Infrastructure Holding Ltd | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
BW LPG Shipping FZCO (formerly known as BW LPG Infrastructure DMCC) | ​ | (e) | ​ | Investment in Commercial Enterprises & Management | ​ | United Arab Emirates | ​ | — | ​ | 100 | %
(vii) Joint venture held by BW VLGC Pte. Ltd. |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ | ​
BW Confidence Enterprise Private Limited |  | (f) |  | LPG wholesaler |  | India |  | — | ​ | 50 | %
(viii) Joint venture held by BW LPG Shipping FZCO (formerly known as BW LPG Infrastructure DMCC). | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
BW Confidence Enterprise Private Limited | ​ | (f) | ​ | LPG wholesaler | ​ | India | ​ | 50 | % | — | ​
(ix) Subsidiary held by BW Confidence Enterprise Private Limited. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
GBC LPG Private Limited | ​ | (g) | ​ | Dormant | ​ | India | ​ | 50 | % | 25 | %
(a) | Companies in process of liquidation during the financial year
(b) | Company was newly incorporated during the financial year
(c) | Company has amalgamated with BW LPG AS during the financial year
​ 26.Listing of companies in the Group (continued)
(d) | Changes in effective equity holding due to sales of shares of BW LPG Product Services Pte. Ltd. to certain employees during the financial year
(e) | Company was transferred from BW LPG Infrastructure Holding Ltd to BW LPG Holding Pte. Ltd.
(f) | Company was transferred from BW LPG VLGC Pte. Ltd. to BW LPG Shipping FZCO (formerly known as BW LPG Infrastructure DMCC)
(g) | BW Confidence Enterprise Private Limited acquired the remaining shares in GBC LPG Private Limited during the financial year

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