SEC FORM 3

SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Knutsen Knut-Helge

(Last)

(First)

(Middle)

10 PASIR PANJANG ROAD

(Street)

#17-02 MAPLETREE BUSINESS CITY

117438

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
BW LPG Ltd [ BWLP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Technical Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options	03/01/2027	03/01/2030	Ordinary Shares	50,812	$9.48⁽¹⁾	D
Stock Options	03/01/2028	03/01/2031	Ordinary Shares	50,812	$12.96⁽²⁾	D
Stock Options	03/01/2029	03/01/2032	Ordinary Shares	50,812	$19.42⁽³⁾	D

Explanation of Responses:

1. Reflects the exercise price as of the date of event of this Form 3, converted from NOK 92.5905 to USD9.4822 based on an exchange rate of NOK 1 to USD0.1024 as of March 13, 2026. Pursuant to the terms of the issuer's Long-Term Incentive Plan, the exercise price is subject to adjustment upon the occurrence of certain events and has been adjusted since the date the options were granted to reflect quarterly cash dividends.

2. Reflects the exercise price as of the date of event of this Form 3, converted from NOK 126.559 to USD12.961 based on an exchange rate of NOK 1 to USD0.1024 as of March 13, 2026. Pursuant to the terms of the issuer's Long-Term Incentive Plan, the exercise price is subject to adjustment upon the occurrence of certain events and has been adjusted since the date the options were granted to reflect quarterly cash dividends.

3. Reflects the exercise price as of the date of event of this Form 3, converted from NOK 189.6346 to USD19.420 based on an exchange rate of NOK 1 to USD0.1024 as of March 13, 2026. Pursuant to the terms of the issuer's Long-Term Incentive Plan, the exercise price is subject to adjustment upon the occurrence of certain events and has been adjusted since the date the options were granted to reflect quarterly cash dividends.

Remarks:

Ex. 24 - Power of Attorney

	/s/ Sharon Tiong, as attorney-in-fact for Knut-Helge Knutsen	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 3 filed by new insider Knutsen Knut-Helge