Dorian LPG reported record quarterly performance for its fiscal first quarter of 2027, with adjusted EBITDA of $165.4 million and a corporate-high time-charter-equivalent revenue of $75,926 per available day. The company declared a $1-per-share dividend, its 20th payout, bringing cumulative dividends since its initial public offering to more than $810 million. Middle East supply disruptions reshaped LPG trade flows, as regional liftings fell more than 70% while U.S. LPG exports rose 20% year over year to a record 20.8 million tons, and the U.S. now represents about 65% of global seaborne LPG exports. Longer routes, Panama Canal congestion, and higher fuel costs drove VLGC freight rates sharply higher, with the Baltic LPG freight market recently approaching $175,000 per day. Dorian's cash balance rose to nearly $600 million after vessel sales, and the company ordered a dual-fuel VLGC for delivery in 2029 while continuing to sell older vessels and evaluate repurchases and refinancing.
Dorian LPG LtdRecord TCE rates and EBITDA driven by strong LPG demand and trade disruptions.
