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 the completion of two Japanese financing transactions totaling approximately $136.4 million on March 29 and 31, 2022. The first transaction involved the sale and bareboat charter of the VLGC Chaparral for $64.9 million, with $24.0 million allocated to prepay existing debt. The second transaction concerned the VLGC Caravelle, resulting in cash proceeds of $50.0 million and a similar debt repayment structure. Both arrangements support general corporate purposes and have multi-year terms with purchase options.
Dorian LPG Ltd. announced the completion of two Japanese financing transactions on March 18, 2022, involving its 2015-built VLGCs, Cratis and Copernicus, totaling $100 million. Proceeds included $50.6 million for debt repayment and the remainder for corporate purposes. Additionally, the company sold its 2008-built VLGC, Captain Nicholas ML, for $48.1 million. Each financing has a nine-year term with a fixed interest rate of 4.1% and amortizes $340,000 monthly.
Dorian LPG reported Q3 FY2022 results, revealing revenues of $68.6 million, down 22.5% from $88.5 million in Q3 FY2021. The Time Charter Equivalent (TCE) rate decreased by 20.8% to $33,508. Net income stood at $16.6 million, or $0.41 EPS, reflecting a significant drop from $35.8 million and $0.71 EPS a year ago. The company declared a $1.00 cash dividend per share in January 2022 and authorized a $100 million share repurchase. Fleet utilization improved to 98.5% from 96.2%.
Dorian LPG Ltd. (NYSE: LPG) has provided a financial update for the quarter ending December 31, 2021. The Company anticipates time charter equivalent revenues between $66.8 million and $68.8 million. Vessel operating expenses are expected to be between $17.2 million and $19.2 million, while general and administrative expenses are projected between $5.4 million and $6.4 million. The earnings conference call is scheduled for February 3, 2022, at 10:00 a.m. ET, with a live webcast available on their website.
Dorian LPG Ltd. (NYSE: LPG) declared a cash dividend of $1.00 per share, totaling over $40.1 million for shareholders, payable on January 25, 2022, to shareholders of record by January 14, 2022. Additionally, the company completed a refinancing of its debt secured by two vessels, with a new loan of $83.4 million at a fixed rate of 3.78% over five years, yielding $33.9 million in cash proceeds after settling existing debts.
Dorian LPG Ltd. (NYSE: LPG) reported financial results for Q2 FY 2022, with revenues of $63.1 million, up from $54.7 million YoY. Net income rose to $14.1 million or $0.35 EPS, compared to $0.5 million or $0.01 EPS last year. Adjusted net income was $9.9 million, versus a loss of $3.4 million in Q2 FY 2021. The company declared a $1.00 dividend per share for shareholders as of August 9, 2021. Dorian LPG completed the sale of a vessel for $43.4 million, netting a $3.5 million gain. TCE rate increased to $30,996, reflecting a strong market position.
Dorian LPG Ltd. (NYSE: LPG) has updated its financial and operational outlook for the quarter ended September 30, 2021. The Company anticipates time charter equivalent (TCE) revenues between $61 million and $63 million, with vessel operating expenses of $17.4 million to $19.4 million. The conference call to discuss these results will be held on November 3, 2021 at 10:00 a.m. ET. The Company reminds shareholders that this information is preliminary and subject to adjustments, reflecting potential changes in financial results.
Dorian LPG Ltd. (NYSE: LPG) has announced the sale of its VLGC, Captain Markos NL, a debt-free vessel built in 2006. The company expects to deliver the vessel by August 31, 2021, and anticipates cash proceeds of $42.0 million to $43.0 million. Following this transaction, Dorian LPG's fleet will consist of 22 modern VLGCs, reinforcing its position in the liquefied petroleum gas shipping sector.
Dorian LPG reported Q1 FY2022 financial results with revenues of $63.0 million, a 14% decrease from the previous year. Net income was $5.9 million, or $0.14 EPS, down from $12.2 million, or $0.24 EPS in Q1 FY2021. The adjusted EBITDA was $29.8 million. The company declared a cash dividend of $1.00 per share, payable September 8, 2021. Vessel operating expenses rose to $10,131 per day. The TCE rate fell 23.5% to $31,571, impacted by higher bunker costs. Fleet utilization improved to 96.1% from 82.3% year-over-year.
Dorian LPG Ltd. (NYSE: LPG) has declared a cash dividend of $1.00 per share, totaling over $40 million to shareholders, payable on September 8, 2021. This follows an operational update for the quarter ending June 30, 2021, with expected time charter equivalent revenues of $60.6 million - $62.6 million and vessel operating expenses between $19.3 million - $21.3 million. The company plans to release its full financial results on August 4, 2021.
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