BW LPG Limited stated during its Q2 2026 earnings call that the closure of the Strait of Hormuz has fundamentally altered global liquefied petroleum gas (LPG) trade flows, leading to a 46% decrease in Middle Eastern exports and increased reliance on US Gulf Coast exports. Company management anticipates that even if the Strait of Hormuz reopens, a full recovery of Middle Eastern exports could take 12 to 36 months. Additionally, transit restrictions in the Panama Canal have become an "uncertain factor," with auction fees exceeding $5 million per slot, significantly increasing voyage costs. The company reported Q2 shipping TCE income of $74,000 per available day and declared a dividend of $0.95 per share, representing 100% of shipping net profit.