Dorian LPG Ltd., owned by John Hadjipateras, ended the first quarter of 2025 with revenues of 75.8 million dollars and profits of 8.09 million dollars.
The Wall Street-listed company currently has a fleet of 25 very large gas carriers (VLGCs), with a total carrying capacity of 2.1 million cbm, while – as announced – it will distribute another consecutive quarterly extraordinary dividend of 0.50 dollars per share. The total amount that will be granted to shareholders on May 30 reaches 21.3 million dollars.
According to the report, its available funds stand at 316 million dollars, while long-term liabilities reach approximately 570 million dollars.
Market outlook
Following the announcement of the financial results, Hadjipateras, President and CEO of Dorian LPG, expressed his satisfaction with the company’s progress, despite the unstable geopolitical and economic environment and the heavy ship docking program of the listed company.
“While trade and other significant issues that may impact our business have not been resolved, I am confident in the fundamentals of the LPG market and the readiness of our teams to respond constructively,” he said.
The company also stressed that the increase in petrochemical transactions has contributed to less pronounced seasonality than in the past, but there is no guarantee that this trend will continue.
“To the extent that some of our time charters expire during the typically weaker fiscal quarters ending December 31 and March 31, it may not be possible to re-charter our vessels at similar rates.
As a result, we may be forced to accept lower rates or have certain vessels off-charter.”
