Dorian Lpg Ltd Stock Price, News & Analysis

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.

Dorian LPG Ltd. (NYSE: LPG) provided an update on its financial outlook for the quarter ended December 31, 2022. The company expects time charter equivalent revenues between $101.9 million and $103.9 million with vessel operating expenses estimated at $16.9 million to $18.9 million. Charter hire expenses are projected at $5.1 million to $5.3 million, while general and administrative expenses will range from $6.4 million to $7.4 million. The utilization rate stands at 97.8%. Dorian LPG will disclose complete financial results on February 1, 2023, with a conference call scheduled at 10:00 a.m. ET.

Dorian LPG Ltd. (NYSE: LPG) announced its participation in Capital Link's Corporate Presentations Webinar Series, set for January 12, 2023, at 11:00 AM ET. The company's senior management will present on current operations, business development, and growth outlook within the LPG sector. Interested participants can register for the webinar here. A live Q&A session will follow, and institutional investors can request one-on-one meetings with management.

Dorian LPG Ltd. (NYSE: LPG) has formed a Partner Agreement with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, appointing the company as a Mission Ambassador. This collaboration aims to leverage Dorian LPG's expertise in modern and ECO very large gas carriers (VLGCs) to support decarbonization initiatives in shipping. CEO John Hadjipateras highlighted the importance of research and development cooperation to achieve industry decarbonization targets, indicating Dorian's commitment to contributing its knowledge from multiple locations including Copenhagen, Athens, and the U.S.

Dorian LPG Ltd. (LPG) reported significant financial results for Q2 FY2023, with revenues of $76 million, a 20.4% increase from $63.1 million in Q2 FY2022. Net income rose to $20.3 million ($0.51 per share), up from $14.1 million ($0.35 per share) year-over-year. The company declared a cash dividend of $40.4 million and maintained a TCE rate of $40,632, reflecting a 31.1% increase. Fleet utilization decreased to 90.7% from 95.7%. The company entered a $240 million debt facility for refinancing, highlighting financial stability amid economic uncertainties.

Dorian LPG Ltd. (NYSE: LPG) announced an irregular cash dividend of $1.00 per share, returning $40.4 million to shareholders, payable on or about December 6, 2022. The dividend is based on preliminary financial results for the quarter ended September 30, 2022, which estimate time charter equivalent revenues between $73.6 million and $75.6 million. The company will disclose its complete financial results on November 2, 2022, during a conference call scheduled for 10:00 a.m. ET.

Dorian LPG Ltd. reported strong financial results for the three months ending June 30, 2022, highlighted by revenues of $76.8 million and a net income of $24.8 million, or $0.62 per diluted share. The company declared an irregular cash dividend of $1.00 per share, totaling over $40.1 million, payable on September 2, 2022. The average Time Charter Equivalent (TCE) rate increased to $39,608 per operating day, a 25.5% rise from the previous year. Total expenses fell to $48.5 million, driving an adjusted EBITDA of $46.9 million.