Dorian LPG Ltd., under the leadership of John Hadjipateras, concluded the first quarter of 2025 with revenues totaling $75.8 million and profits amounting to $8.09 million.
The publicly traded company operates a fleet of 25 very large gas carriers (VLGCs), which have a combined capacity of 2.1 million cbm. It also announced an upcoming extraordinary quarterly dividend of $0.50 per share. Shareholders are set to receive a total of $21.3 million on May 30.
As reported, the company’s available funds are $316 million, while its long-term liabilities stand at approximately $570 million.
Market Outlook
Following the release of the financial results, Hadjipateras, the President and CEO of Dorian LPG, expressed his satisfaction with the company’s performance, despite the volatile geopolitical and economic climate, along with an extensive ship docking schedule.
“While trade and other significant challenges affecting our business have not been resolved, I remain confident in the fundamentals of the LPG market and the readiness of our teams to respond effectively,” he stated.
The company also noted that an uptick in petrochemical transactions has led to reduced seasonality compared to previous years, although this trend is not guaranteed to persist.
“As some of our time charters may expire during the typically weaker fiscal quarters ending December 31 and March 31, we might face challenges re-chartering our vessels at comparable rates. Thus, we may have to accept lower rates or leave certain vessels off-charter.”
