Dorian LPG Ltd. Declares Irregular Cash Dividend of $0.60 Per Share And Announces First Quarter Fiscal Year 2026 Financial Results
Key Recent Development
-
Declared an irregular dividend totaling approximately
$25.6 million $0.60
Highlights for the First Quarter Fiscal Year 2026
-
Revenues of
$84.2 million -
Time Charter Equivalent (“TCE”)(1) rate per available day for our fleet of
$39,726 -
Net income of
$10.1 million $0.24 $11.3 million $0.27 -
Adjusted EBITDA(1) of
$38.6 million -
Declared and paid an irregular cash dividend totaling
$21.3 million
(1) |
TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non- |
John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, “Our results for the reporting quarter were impacted by a heavy drydocking schedule as well as the market. Volatility, which is ever present in freight markets, has been more acute in reaction to recent abrupt geopolitical movements. Our bookings for the current quarter are at strong rates supporting our positive outlook which is rooted in our confidence in the resilience and the fundamentals of the LPG trade. As always, I am grateful to and commend our seafarers and shore staff for their commitment to our mission to provide safe, reliable, clean, and trouble-free transportation.”
First Quarter Fiscal Year 2026 Results Summary
Net income amounted to
Adjusted net income amounted to
The
The TCE rate per available day for our fleet was
Vessel operating expenses per vessel per calendar day increased to
Revenues
Revenues, which represent net pool revenues—related party, time charters and other revenues, net, were
Vessel Operating Expenses
Vessel operating expenses were
General and Administrative Expenses
General and administrative expenses were
Interest and Finance Costs
Interest and finance costs amounted to
Interest Income
Interest income amounted to
Unrealized Loss on Derivatives
Unrealized loss on derivatives amounted to
Realized Gain on Derivatives
Realized gain on derivatives was
Fleet
The following table sets forth certain information regarding our fleet as of July 30, 2025.
|
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|
|
|
|
|
|
|
|
|
|
|
Scrubber |
|
|
|
Time |
|
|
|
Capacity |
|
|
|
|
|
|
ECO |
|
Equipped |
|
|
|
Charter-Out |
|
|
|
(Cbm) |
|
Shipyard |
|
|
Year Built |
|
Vessel(1) |
|
or Dual-Fuel |
|
Employment |
|
Expiration(2) |
|
Dorian VLGCs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Captain John NP(3) |
|
82,000 |
|
Hyundai |
|
|
2007 |
|
— |
|
— |
|
Pool(5) |
|
— |
|
Comet |
|
84,000 |
|
Hyundai |
|
|
2014 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Corsair(4) |
|
84,000 |
|
Hyundai |
|
|
2014 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Corvette |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Cougar(4) |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
— |
|
Pool(5) |
|
|
|
Concorde |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Cobra |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
— |
|
Pool(5) |
|
— |
|
Continental |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Constitution |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Commodore |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
— |
|
Pool-TCO(6) |
|
Q2 2027 |
|
Cresques(4) |
|
84,000 |
|
Hanwha Ocean |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Constellation |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Cheyenne |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Clermont |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Cratis(4) |
|
84,000 |
|
Hanwha Ocean |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Chaparral(4) |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
— |
|
Pool(5) |
|
— |
|
Copernicus(4) |
|
84,000 |
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Hanwha Ocean |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Commander |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Challenger |
|
84,000 |
|
Hyundai |
|
|
2015 |
|
X |
|
S |
|
Pool-TCO(6) |
|
Q3 2026 |
|
Caravelle(4) |
|
84,000 |
|
Hyundai |
|
|
2016 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
Captain Markos(4) |
|
84,000 |
|
|
|
|
2023 |
|
X |
|
DF |
|
Pool(5) |
|
— |
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Total |
|
1,762,000 |
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Time chartered-in VLGCs |
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Future Diamond(7) |
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80,876 |
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Hyundai |
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2020 |
|
X |
|
S |
|
Pool(5) |
|
— |
|
HLS Citrine(8) |
|
86,090 |
|
Hyundai |
|
|
2023 |
|
X |
|
DF |
|
Pool(5) |
|
— |
|
HLS Diamond(9) |
|
86,090 |
|
Hyundai |
|
|
2023 |
|
X |
|
DF |
|
Pool(5) |
|
— |
|
Cristobal(10) |
|
86,980 |
|
Hyundai |
|
|
2023 |
|
X |
|
DF |
|
Pool(5) |
|
— |
|
Crystal Asteria(11) |
|
84,229 |
|
|
|
|
2021 |
|
X |
|
DF |
|
Pool(5) |
|
— |
|
| _______________________ | ||||
(1) |
|
Represents vessels with very low revolutions per minute, long-stroke, electronically controlled engines, larger propellers, advanced hull design, and low friction paint. |
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(2) |
|
Represents calendar year quarters. |
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(3) |
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Vessel was reflagged from the |
||
(4) |
|
Operated pursuant to a bareboat chartering agreement. See Note 8 to our unaudited interim condensed consolidated financial statements. |
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(5) |
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“Pool” indicates that the vessel operates in the Helios Pool on a voyage charter with a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel’s pro rata performance in the pool. |
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(6) |
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“Pool-TCO” indicates that the vessel is operated in the Helios Pool on a time charter out to a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel’s pro rata performance in the pool. |
||
(7) |
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Vessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2026. |
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(8) |
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Vessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2030 and purchase options beginning in year seven. |
||
(9) |
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Vessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2030 and purchase options beginning in year seven. |
||
(10) |
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Vessel has a Panamax beam and shaft generator and is currently time chartered-in to our fleet with an expiration during the third calendar quarter of 2030 and purchase options beginning in year seven. |
||
(11) |
|
Vessel is currently time chartered-in to our fleet with an expiration during the second calendar quarter of 2026. |
||
Market Outlook & Update
Geopolitical developments drove market volatility during the second calendar quarter of 2025 (“Q2 2025”). The implementation of tariffs between the
Economic uncertainty drove crude oil price lower throughout Q2 2025, which resulted in falling prices for propane and butane in all three major regions. In
The reduced
Overall, Q2 2025 saw an improvement in petrochemical economics with average margins for the production of ethylene via steam cracking for propane rising from
PDH margins were also seen to improve particularly at the start of the quarter reaching an average of
VLGC freight rates were volatile in Q2 2025, as evidenced by the broad range on the Ras Tanura–Chiba route, where the Baltic Index averaged around
During Q2 2025, the global VLGC fleet saw a modest expansion with the delivery of two new vessels. An additional 114 VLGCs/VLACs, equivalent to roughly 10.2 million cbm of carrying capacity, are expected to be added to the global fleet by calendar year 2029. The average age of the global fleet is now approximately 10.9 years old. Currently, the VLGC/VLAC orderbook stands at approximately
The above market outlook update is based on information, data and estimates derived from industry sources available as of the date of this release, and there can be no assurances that such trends will continue or that anticipated developments in freight rates, export volumes, the VLGC orderbook or other market indicators will materialize. This information, data and estimates involve a number of assumptions and limitations, are subject to risks and uncertainties, and are subject to change based on various factors. You are cautioned not to give undue weight to such information, data and estimates. We have not independently verified any third-party information, verified that more recent information is not available and undertake no obligation to update this information unless legally obligated.
Seasonality
Liquefied gases are primarily used for industrial and domestic heating, as chemical and refinery feedstock, as transportation fuel and in agriculture. The LPG shipping market historically has been stronger in the spring and summer months in anticipation of increased consumption of propane and butane for heating during the winter months. In addition, unpredictable weather patterns in these months tend to disrupt vessel scheduling and the supply of certain commodities. Demand for our vessels therefore may be stronger in our quarters ending June 30 and September 30 and relatively weaker during our quarters ending December 31 and March 31, although 12-month time charter rates tend to smooth out these short-term fluctuations and recent LPG shipping market activity has not yielded the typical seasonal results. The increase in petrochemical industry buying has contributed to less marked seasonality than in the past, but there can no guarantee that this trend will continue. To the extent any of our time charters expire during the typically weaker fiscal quarters ending December 31 and March 31, it may not be possible to re-charter our vessels at similar rates. As a result, we may have to accept lower rates or experience off-hire time for our vessels, which may adversely impact our business, financial condition and operating results.
Financial Information
The following table presents our selected financial data and other information for the periods presented:
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Three months ended |
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(in |
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June 30, 2025 |
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June 30, 2024 |
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Statement of Operations Data |
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Revenues |
|
$ |
84,211,966 |
|
|
$ |
114,353,042 |
|
|
|
Expenses |
|
|
|
|
|
|
|
|
||
Voyage expenses |
|
|
1,342,756 |
|
|
|
804,985 |
|
|
|
Charter hire expenses |
|
|
10,721,911 |
|
|
|
10,645,140 |
|
|
|
Vessel operating expenses |
|
|
21,911,606 |
|
|
|
20,480,279 |
|
|
|
Depreciation and amortization |
|
|
18,379,147 |
|
|
|
17,170,986 |
|
|
|
General and administrative expenses |
|
|
16,910,101 |
|
|
|
10,424,070 |
|
|
|
Total expenses |
|
|
69,265,521 |
|
|
|
59,525,460 |
|
|
|
Other income—related parties |
|
|
645,364 |
|
|
|
645,943 |
|
|
|
Operating income |
|
|
15,591,809 |
|
|
|
55,473,525 |
|
|
|
Other income/(expenses) |
|
|
|
|
|
|
|
|
||
Interest and finance costs |
|
|
(7,714,797 |
) |
|
|
(9,518,430 |
) |
|
|
Interest income |
|
|
2,843,446 |
|
|
|
3,728,507 |
|
|
|
Unrealized loss on derivatives |
|
|
(1,183,841 |
) |
|
|
(421,627 |
) |
|
|
Realized gain on derivatives |
|
|
539,429 |
|
|
|
1,717,249 |
|
|
|
Other gain, net |
|
|
6,055 |
|
|
|
308,916 |
|
|
|
Total other expenses, net |
|
|
(5,509,708 |
) |
|
|
(4,185,385 |
) |
|
|
Net income |
|
$ |
10,082,101 |
|
|
$ |
51,288,140 |
|
|
|
Earnings per common share—basic |
|
|
0.24 |
|
|
|
1.25 |
|
|
|
Earnings per common share—diluted |
|
$ |
0.24 |
|
|
$ |
1.25 |
|
|
|
Financial Data |
|
|
|
|
|
|
|
|
||
Adjusted EBITDA(1) |
|
$ |
38,578,336 |
|
|
$ |
77,957,393 |
|
|
|
Fleet Data |
|
|
|
|
|
|
|
|
||
Calendar days(2) |
|
|
1,911 |
|
|
|
1,911 |
|
|
|
Time chartered-in days(3) |
|
|
370 |
|
|
|
364 |
|
|
|
Available days(4)(5) |
|
|
2,086 |
|
|
|
2,260 |
|
|
|
Average Daily Results |
|
|
|
|
|
|
|
|
||
Time charter equivalent rate(5)(6) |
|
$ |
39,726 |
|
|
$ |
50,243 |
|
|
|
Daily vessel operating expenses(7) |
|
$ |
11,466 |
|
|
$ |
10,717 |
|
|
|
| _______________________ | ||||
(1) |
|
Adjusted EBITDA is an unaudited non- |
||
|
||||
Adjusted EBITDA has certain limitations in use and should not be considered an alternative to net income/(loss), operating income, cash flow from operating activities or any other measure of financial performance presented in accordance with |
||||
The following table sets forth a reconciliation of net income to Adjusted EBITDA (unaudited) for the periods presented: |
||||
|
|
Three months ended |
|
||||||
(in |
|
June 30, 2025 |
|
June 30, 2024 |
|
||||
Net income |
|
$ |
10,082,101 |
|
|
$ |
51,288,140 |
|
|
Interest and finance costs |
|
|
7,714,797 |
|
|
|
9,518,430 |
|
|
Unrealized (gain)/loss on derivatives |
|
|
1,183,841 |
|
|
|
421,627 |
|
|
Realized gain on interest rate swaps |
|
|
(539,429 |
) |
|
|
(1,717,249 |
) |
|
Stock-based compensation expense |
|
|
1,757,879 |
|
|
|
1,275,459 |
|
|
Depreciation and amortization |
|
|
18,379,147 |
|
|
|
17,170,986 |
|
|
Adjusted EBITDA |
|
$ |
38,578,336 |
|
|
$ |
77,957,393 |
|
|
(2) |
We define calendar days as the total number of days in a period during which each vessel in our fleet was owned or operated pursuant to a bareboat charter. Calendar days are an indicator of the size of the fleet over a period and affect both the amount of revenues and the amount of expenses that are recorded during that period. |
|||
|
||||
(3) |
We define time chartered-in days as the aggregate number of days in a period during which we time chartered-in vessels from third parties excluding off-hire days. Time chartered-in days are an indicator of the size of the fleet over a period and affect both the amount of revenues and the amount of charter hire expenses that are recorded during that period. |
|||
|
||||
(4) |
We define available days as the sum of calendar days and time chartered-in days (collectively representing our commercially-managed vessels) less aggregate off hire days associated with both unscheduled and scheduled maintenance, which include major repairs, drydockings, vessel upgrades or special or intermediate surveys. We use available days to measure the aggregate number of days in a period that our vessels should be capable of generating revenues. |
|||
|
||||
Note that we have updated our definition of available days to include unscheduled maintenance as we believe it is more reflective of industry practice and more consistent with the practice used in the Helios Pool, which now accounts for more than |
||||
|
||||
(5) |
Prior period amounts have been updated to conform to current period presentation. |
|||
|
||||
(6) |
Time charter equivalent rate, or TCE rate, is a non- |
|||
The following table sets forth a reconciliation of revenues to TCE rate (unaudited) for the periods presented: |
|
|
Three months ended |
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|
||||||
(in |
|
June 30, 2025 |
|
June 30, 2024 |
|
|
||||
Numerator: |
|
|
|
|
|
|
|
|
||
Revenues |
|
$ |
84,211,966 |
|
|
$ |
114,353,042 |
|
|
|
Voyage expenses |
|
|
(1,342,756 |
) |
|
|
(804,985 |
) |
|
|
Time charter equivalent |
|
$ |
82,869,210 |
|
|
$ |
113,548,057 |
|
|
|
|
|
|
|
|
|
|
|
|
||
Pool adjustment* |
|
|
895,366 |
|
|
|
(2,050 |
) |
|
|
Time charter equivalent excluding pool adjustment* |
|
$ |
83,764,576 |
|
|
$ |
113,546,007 |
|
|
|
|
|
|
|
|
|
|
|
|
||
Denominator: |
|
|
|
|
|
|
|
|
||
Available days** |
|
|
2,086 |
|
|
|
2,260 |
|
|
|
TCE rate: |
|
|
|
|
|
|
|
|
||
Time charter equivalent rate** |
|
$ |
39,726 |
|
|
$ |
50,243 |
|
|
|
TCE rate excluding pool adjustment* |
|
$ |
40,156 |
|
|
$ |
50,242 |
|
|
|
* Adjusted for the effects of reallocations of pool profits in accordance with the pool participation agreements primarily resulting from the actual speed and consumption performance of the vessels operating in the Helios Pool exceeding the originally estimated speed and consumption levels. |
||||
|
||||
** Prior period amounts have been updated to conform to current period presentation of available days (see footnotes to tables above). |
||||
|
||||
(7) |
Daily vessel operating expenses are calculated by dividing vessel operating expenses by calendar days for the relevant time period. |
In addition to the results of operations presented in accordance with
|
Three months ended |
|
|
||||
(in |
June 30, 2025 |
|
June 30, 2024 |
|
|
||
Net income |
$ |
10,082,101 |
|
$ |
51,288,140 |
|
|
Unrealized loss on derivatives |
|
1,183,841 |
|
|
421,627 |
|
|
Adjusted net income |
$ |
11,265,942 |
|
$ |
51,709,767 |
|
|
|
|
|
|
|
|
|
|
Earnings per common share—diluted |
$ |
0.24 |
|
$ |
1.25 |
|
|
Unrealized loss on derivatives |
|
0.03 |
|
|
0.01 |
|
|
Adjusted earnings per common share—diluted |
$ |
0.27 |
|
$ |
1.26 |
|
|
The following table presents our unaudited balance sheets as of the dates presented:
|
As of |
|
As of |
|
||||
|
June 30, 2025 |
|
March 31, 2025 |
|
||||
Assets |
|
|
|
|
|
|
||
Current assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
$ |
277,921,450 |
|
|
$ |
316,877,584 |
|
|
Trade receivables, net and accrued revenues |
|
1,550,709 |
|
|
|
1,356,827 |
|
|
Due from related parties |
|
74,762,042 |
|
|
|
48,090,301 |
|
|
Inventories |
|
2,410,458 |
|
|
|
2,508,684 |
|
|
Prepaid expenses and other current assets |
|
15,015,159 |
|
|
|
13,523,008 |
|
|
Total current assets |
|
371,659,818 |
|
|
|
382,356,404 |
|
|
Fixed assets |
|
|
|
|
|
|
||
Vessels, net |
|
1,134,400,127 |
|
|
|
1,149,806,782 |
|
|
Vessel under construction |
|
39,274,822 |
|
|
|
37,274,863 |
|
|
Total fixed assets |
|
1,173,674,949 |
|
|
|
1,187,081,645 |
|
|
Other non-current assets |
|
|
|
|
|
|
||
Deferred charges, net |
|
21,392,990 |
|
|
|
17,237,662 |
|
|
Derivative instruments |
|
2,313,652 |
|
|
|
3,497,493 |
|
|
Due from related parties—non-current |
|
26,400,000 |
|
|
|
26,400,000 |
|
|
Restricted cash—non-current |
|
81,464 |
|
|
|
76,028 |
|
|
Operating lease right-of-use assets |
|
150,754,249 |
|
|
|
159,212,010 |
|
|
Other non-current assets |
|
2,806,183 |
|
|
|
2,799,038 |
|
|
Total assets |
$ |
1,749,083,305 |
|
|
$ |
1,778,660,280 |
|
|
Liabilities and shareholders’ equity |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Trade accounts payable |
$ |
14,070,845 |
|
|
$ |
11,549,950 |
|
|
Accrued expenses |
|
6,340,991 |
|
|
|
5,387,465 |
|
|
Due to related parties |
|
277,543 |
|
|
|
39,339 |
|
|
Deferred income |
|
620,097 |
|
|
|
679,257 |
|
|
Current portion of long-term operating lease liabilities |
|
35,397,877 |
|
|
|
34,808,203 |
|
|
Current portion of long-term debt |
|
54,110,683 |
|
|
|
54,504,778 |
|
|
Dividends payable |
|
1,027,746 |
|
|
|
915,150 |
|
|
Total current liabilities |
|
111,845,782 |
|
|
|
107,884,142 |
|
|
Long-term liabilities |
|
|
|
|
|
|
||
Long-term debt—net of current portion and deferred financing fees |
|
485,497,697 |
|
|
|
498,773,969 |
|
|
Long-term operating lease liabilities |
|
115,371,259 |
|
|
|
124,419,545 |
|
|
Other long-term liabilities |
|
1,569,042 |
|
|
|
1,476,439 |
|
|
Total long-term liabilities |
|
602,437,998 |
|
|
|
624,669,953 |
|
|
Total liabilities |
|
714,283,780 |
|
|
|
732,554,095 |
|
|
Commitments and contingencies |
|
— |
|
|
|
— |
|
|
Shareholders’ equity |
|
|
|
|
|
|
||
Preferred stock, |
|
— |
|
|
|
— |
|
|
Common stock, |
|
543,244 |
|
|
|
543,244 |
|
|
Additional paid-in-capital |
|
869,281,952 |
|
|
|
867,524,073 |
|
|
Treasury stock, at cost; 11,676,717 and 11,576,717 shares as of June 30, 2025 and March 31, 2025, respectively |
|
(134,926,737 |
) |
|
|
(133,103,957 |
) |
|
Retained earnings |
|
299,901,066 |
|
|
|
311,142,825 |
|
|
Total shareholders’ equity |
|
1,034,799,525 |
|
|
|
1,046,106,185 |
|
|
Total liabilities and shareholders’ equity |
$ |
1,749,083,305 |
|
|
$ |
1,778,660,280 |
|
|
Conference Call
A conference call to discuss the results will be held on Friday, August 1, 2025 at 10:00 a.m. ET. The conference call can be accessed live by dialing 1-800-225-9448, or for international callers, 1-203-518-9708, and requesting to be joined into the Dorian LPG call. A replay will be available at 1:00 p.m. ET the same day and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11159689. The replay will be available until August 08, 2025, at 11:59 p.m. ET.
A live webcast of the conference call will also be available under the investor relations section at www.dorianlpg.com.
The information on our website does not form a part of and is not incorporated by reference into this release.
About Dorian LPG Ltd.
Dorian LPG is a leading owner and operator of modern Very Large Gas Carriers (“VLGCs”) that transport liquefied petroleum gas globally. Our current fleet of twenty-six modern VLGCs includes twenty ECO VLGCs, five dual-fuel ECO VLGCs, and one modern VLGC. Dorian LPG has offices in
Forward-Looking and Other Cautionary Statements
The cash dividends referenced in this release are irregular dividends. All declarations of dividends are subject to the determination and discretion of our Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that our Board of Directors may deem relevant. The Board of Directors, in its sole discretion, may increase, decrease or eliminate the dividend at any time.
This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "will," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's current expectations and observations regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Where the Company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, the Company’s forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. The Company’s actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company’s financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company's filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250801365491/en/
Ted Young
Chief Financial Officer
+1 (203) 674-9900
IR@dorianlpg.com
Source: Dorian LPG Ltd.
