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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 Q1 FY2025 financial results for the period ending June 30, 2024. Key highlights include revenues of $114.4 million, a TCE rate of $55,228 per operating day, and net income of $51.3 million ($1.25 diluted EPS). Adjusted net income was $51.7 million ($1.26 adjusted EPS), with an adjusted EBITDA of $78 million.
The company declared an irregular dividend of $42.6 million payable on August 21, 2024, and issued 2,000,000 common shares at $44.50 per share. Fleet utilization dropped to 90.4% from 98% YoY, while vessel operating expenses per day rose to $10,717 from $10,383. General and administrative expenses increased by 13.1% to $10.4 million.
Interest and finance costs decreased by 8.5% to $9.5 million, and interest income doubled to $3.7 million. Unrealized loss on derivatives was $0.4 million. The company attributes increased adjusted net income to higher revenues and interest income, and lower interest costs.
Dorian LPG (NYSE: LPG) has announced an irregular cash dividend of $1.00 per share, returning $42.6 million to shareholders. The dividend is payable on August 21, 2024, to shareholders of record as of August 8, 2024. The company also provided a financial outlook for Q1 2025 (ended June 30, 2024):
- Time charter equivalent revenues: $112.5M - $114.5M
- Vessel operating expenses: $19.5M - $21.5M
- Charter hire expenses: $9.6M - $11.6M
- General and administrative expenses: $5.5M - $7.5M
- Cash and cash equivalents: $352.3M - $354.3M
- Long-term debt obligations: $596.1M - $598.1M
Dorian LPG will announce its Q1 2025 financial results on August 1, 2024, followed by an earnings conference call.
Dorian LPG has announced the pricing of its public offering of 2,000,000 common shares at $44.50 per share. The total net proceeds will be allocated for general corporate purposes. Additionally, a 30-day option for underwriters allows the purchase of up to 300,000 more shares.
Jefferies and SEB are the lead bookrunning managers, with several other financial institutions participating.
The offering is facilitated through a prospectus supplement filed with the SEC. Interested parties can access these documents through the SEC's EDGAR database or by contacting Jefferies
Dorian LPG (NYSE: LPG) announced a public offering of 2,000,000 common shares, priced at $0.01 per share, with the proceeds expected to be used for general corporate purposes.
The offering includes a 30-day option for underwriters to purchase an additional 300,000 shares. Jefferies and SEB are acting as lead and joint bookrunning managers, respectively. The offering is being made through a prospectus supplement and base prospectus, with related documents available on the SEC website.
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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