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LPG News
LPG Events
Company Reports Q1 Revenue of $187.9M, Beating Expectations
Reports Q1 revenue $187.9M, consensus $167.7M. John C. Hadjipateras, Chairman, President and CEO of the Company, commented, "An increase in transportation demand because of geopolitical disruption contributed to our record financial results in the quarter ended June 30. The dislocations and uncertainty are continuing to result in high volatility and extraordinary freight rates in the current quarter. We declared our 19th consecutive quarterly irregular dividend, completed several sales, and placed an order with HD Hyundai for a dual-fuel 90,000 cbm ship for delivery in Q3 2029. We are fortunate that our seafarers are safe and grateful to them and our shore side groups for their contribution to this record quarter's results."
Company Completes Sale of VLGC Constellation, Generates $87.3M
The company announced that it completed the sale of its 2015-built VLGC Constellation on July 27, generating cash proceeds of approximately $87.3M. The associated debt of $23.9M was repaid in connection with the sale.
Dorian LPG Completes Sale of VLGC Corsair for $81.8M
Dorian LPG completed the sale of its 2014 built VLGC Corsair on July 8, 2026, generating cash proceeds of approximately $81.8M. The associated debt of $24.2M was repaid during the quarter ended June 30.
Dorian LPG Declares Irregular Cash Dividend of $1.00 per Share
Dorian LPG has declared an irregular cash dividend of $1.00 per share of the company's common stock, returning approximately $42.8M of capital to shareholders. The irregular dividend is payable on or about August 12 to all shareholders of record as of the close of business on July 27.
Dorian LPG Signs Agreement with HD Hyundai to Build $115M VLGC
Dorian LPG entered into an agreement with HD Hyundai to build one 90,000 cbm VLGC for delivery in July 2029 for a price of approximately $115M. Dorian also has signed memorandums of agreement to sell the 2014-built Corsair and two 2015-built VLGCs for aggregate proceeds of approximately $256M. Dorian expects to deliver each of the vessels to their purchasers by Q4. Dorian also reports estimates for its fleet for the quarter ending June 30 and estimates that it has fixed 99% of its calendar days at a rate in excess of $68K per day. For July 2026, the company estimates that it has fixed 34% of its calendar days at a rate in excess of $100K per day. Dorian's new building will be a dual-fuel Panamax VLGC, allowing the vessel to pass through the less congested "old" Panama Canal locks.
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