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Dorian LPG Ltd (LPG) operates a modern fleet of Very Large Gas Carriers (VLGCs), providing critical maritime transportation services for liquefied petroleum gas across global energy markets. This page serves as the definitive source for verified corporate announcements, operational updates, and strategic developments from this industry leader in LPG shipping.
Access timely updates including quarterly earnings disclosures, vessel acquisition announcements, and operational efficiency initiatives. Investors will find essential information on charter agreements, fleet expansion projects, and sustainability efforts related to ECO-design vessel technology.
All content undergoes strict verification to ensure accuracy and compliance with financial disclosure standards. The curated news collection enables stakeholders to track market positioning, safety protocol enhancements, and strategic partnerships that define Dorian LPG's operational framework.
Bookmark this page for direct access to original press releases and analyzed developments in LPG maritime transport. Regular updates provide insights into how Dorian LPG maintains its competitive edge through technical innovation and operational excellence in global gas logistics.
Dorian LPG (NYSE: LPG) reported its financial results for Q4 and the fiscal year ended March 31, 2024. The company declared an irregular dividend totaling $40.6 million.
For Q4, revenues were $141.4 million with a TCE rate of $72,202. Net income was $79.2 million, or $1.96 EPS. Adjusted net income was $77.6 million, or $1.91 adjusted EPS. Adjusted EBITDA amounted to $105.0 million.
For the fiscal year, revenues reached $560.7 million with a TCE rate of $65,986. Net income was $307.4 million, or $7.60 EPS. Adjusted net income was also $307.4 million, or $7.60 adjusted EPS. Adjusted EBITDA was $417.4 million. Four irregular dividends totaling $162.2 million were declared and paid.
Dorian LPG also entered a new debt facility and ordered a new VLGC/Ammonia Carrier expected for delivery in Q3 2026.
Dorian LPG (NYSE: LPG) provided a financial and operational update for Q4 2024, ending March 31, 2024. The company plans to release its unaudited financial results on May 22, 2024, before market open, followed by an earnings conference call at 10:00 a.m. ET.
Preliminary figures indicate time charter equivalent (TCE) revenues between $140M and $142M, vessel operating expenses between $19.4M and $21.4M, and charter hire expenses between $12.5M and $12.9M. General and administrative expenses are expected to be $6.35M to $6.75M, with stock-based compensation and bonuses at $1.8M to $2.2M.
The company reported 1,911 calendar days, 364 time chartered-in days, and 2,228 available days, with a utilization rate of 87.7%. Cash and cash equivalents are projected between $280.5M and $284.5M, with long-term debt obligations between $608.5M and $612.5M. Final figures may change as the financial closing process continues.
Dorian LPG announced the promotions of two executives to key roles and the ringing of the New York Stock Exchange closing bell to celebrate 10 years as a public company. John Lycouris appointed as Head of Energy Transition and Alexander Hadjipateras as Chief Operating Officer. The Company recognizes the importance of managing the energy transition in the shipping industry for growth. The NYSE closing bell ceremony will take place on May 9, 2024.
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