Dorian LPG Q3 2024 results

Industry Discussions Shipping News
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Our shipping friends, Dorian LPG (LPG) are on a different cycle that most other shipping companies. Last week, Dorian reported their Q3 2024 results

  • Revenue of $80.66M
  • Fleet TCE of $36,071 daily
  • Had announced their div payout a few weeks prior to results – 70c/sh (down from irregular div of $1/sh)

A Slide presentation deck has additional data

[ On a personal note - decision to trim my LPG stake earlier in Jan 2025 was a good one]

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I skimmed thru the Earnings Call transcript.
LPG management shared some other details

  1. Was aware there were more than a few tanker surveys in 2025. Seven in total. LPG provided cost estimate - about $3M per vessel.
  2. LPG are working to increase the number of Ammonia-load-capable VLGCs. Currently have two (including their newest) VLGCs that have the capability, and an additional two that will be out-of-service for survey will have that capability added. No news on time-frame.
  3. China gets a decent chunk of its LPG from US. That could be a problem in a tariff environment
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