Welcome to our dedicated page for Dorian Lpg news (Ticker: LPG), a resource for investors and traders seeking the latest updates and insights on Dorian Lpg stock.
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 Ltd. (NYSE: LPG) announced an irregular cash dividend of $1.00 per share, totaling approximately $40.4 million. This dividend will be payable on or about May 22, 2023 to shareholders on record by May 8, 2023.
The Board of Directors will determine future dividends based on the company's financial condition, operational results, and other factors. Dorian LPG operates a fleet of 25 modern VLGCs and maintains offices in Stamford, Connecticut; Copenhagen, Denmark; and Athens, Greece.
Dorian LPG Ltd. (NYSE: LPG) announced the delivery of its Dual-Fuel LPG Carrier, Captain Markos, on March 31, 2023. The vessel was received under a 13-year bareboat charter from Kawasaki Heavy Industries and will operate in the Helios LPG Pool alongside Phoenix Tankers. This marks the third of four dual-fuel VLGCs expected to be delivered in 2023, enhancing the company's commitment to safer and more efficient transportation.
The transaction involved a $25 million upfront payment and a $56 million financing arrangement, with specific repayment terms and options for early buyout starting March 31, 2028.
Dorian LPG Ltd. (NYSE: LPG) announced the delivery of its 2023-built Dual-Fuel LPG Carrier HLS Diamond on March 23, 2023. This vessel is the second dual-fuel LPG carrier in Dorian LPG's fleet and is chartered out for long-term use, contributing to operational efficiencies.
The HLS Diamond can navigate the older Panama Canal locks, leading to reduced operational costs and delays. Dorian LPG plans to take delivery of two more dual-fuel VLGCs in 2023, enhancing its commitment to environmentally friendly and economically viable shipping solutions.
Dorian LPG Ltd. (NYSE: LPG) announced the delivery of the HLS Citrine, a 2023-built Dual-Fuel LPG Carrier, under a long-term Time Charter. This marks the introduction of the first Dual-Fuel VLGC to Dorian's fleet, aimed at enhancing operational efficiency. The HLS Citrine can navigate the older Panama Canal locks, reducing transit delays and associated costs. It is part of a broader initiative, with four Dual-Fuel VLGCs expected to join the fleet in 2023, focusing on improved economics and environmental sustainability.
Dorian LPG Ltd. (NYSE: LPG) reported strong financial results for Q3 FY2023, with revenues of $103.3 million, a 50.6% increase from the previous year. The company declared an irregular cash dividend of $1.00 per share, totaling over $40.3 million returned to shareholders. Net income reached $51.3 million ($1.27 EPS), up from $16.6 million ($0.41 EPS) a year earlier. Adjusted EBITDA was $76.2 million, driven by a 57.5% increase in Time Charter Equivalent (TCE) rates to $52,768 per day despite slight declines in fleet utilization and increased operating expenses. The company maintains a positive outlook with plans to add four VLGCs to its fleet in 2023.
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