Dorian LPG announced a jump in revenues and profits in the first quarter of 2024, but also at the level of the financial year ended on 31/3/2024.
The average charter price of the company’s 25 ships, which reached 66,000 dollars per day, was a record, John Hadjipateras, chairman and CEO of Dorian LPG, said after the announcement of the financial results.
Hadjipateras said the company had its highest ever net income and a return on equity of more than 30%, including the recently announced dividend of 1.00 dollar per share.
He added that more than 730 million dollars will be returned to shareholders, adding that despite challenges from market volatility due to geopolitical developments, the company will remain focused on the quality of its customer service and the strength of its balance sheet.
“I am grateful and congratulate our seamen as well as all of our staff for their commitment to our mission of providing safe, reliable, clean and trouble-free transportation,” he said.
Dorian LPG Ltd, as a leading shipowner and operator of modern VLGCs, currently has a fleet of 25 vessels.
The US-listed shipping company, which specializes in the management of modern very large gas carriers (VLGCs), reported year-on-year revenue growth of 43.9%.
