Dorian LPG upgraded to Buy from Hold at Fearnley » 05:0311/2711/27/20
Fearnley analyst Peder…
Fearnley analyst Peder Jarlsby upgraded Dorian LPG to Buy from Hold with a $15 price target.
|Over a week ago|
Dorian LPG reports Q2 adj. EPS (7c), consensus 12c » 06:0711/0211/02/20
Reports Q2 revenue…
Reports Q2 revenue $54.7M, two estimates $54.75M. John Hadjipateras, chairman, president and CEO of the company, commented, "I will start by again acknowledging the commitment of all Dorian personnel particularly our seagoing staff who have contributed to our uninterrupted services. I am very glad to report that we have managed to keep safe and healthy during this hazardous time. Having successfully dealt with considerable difficulties associated with crew movements due to pandemic related global restrictions, we are now at normal crew rotation levels. Our reported earnings for the quarter ended September 30, 2020 reflect, to a large extent, the low freight market of the previous quarter which closed on June 30, 2020 at Baltic $29. This quarter closed on September 30, 2020 at Baltic $55 and rates remain robust into the current quarter with sustained demand and new building deliveries, which are being absorbed. Our board has continued to focus on capital allocation and we expect to pursue opportunistic share repurchases, and consider potential dividends, deleveraging further and other opportunities."
|Over a month ago|
Dorian LPG upgraded to Outperform from In Line at Evercore ISI » 06:1810/2710/27/20
Evercore ISI analyst Sean…
Evercore ISI analyst Sean Morgan upgraded Dorian LPG to Outperform from In Line with a $13 price target.
|Over a quarter ago|
Dorian LPG reports Q1 adj. EPS 25c, consensus 49c » 06:1808/0408/04/20
Reports Q1 revenue…
Reports Q1 revenue $73.17M, two estimates $77.95M. John Hadjipateras, chairman, president and CEO of the company, commented, "I am grateful to our seagoing and shore staff for their contribution in achieving a good financial result for this quarter during which the Company faced challenges particularly relating to crew movements and the drop of the Baltic from 50 at the beginning of April to 30 at the end of June. The market has since recovered to over 60 and I believe the Company is strongly positioned as global conditions begin to normalize."
Dorian LPG downgraded to In Line from Outperform at Evercore ISI » 06:4505/2805/28/20
Evercore ISI analyst Sean…
Evercore ISI analyst Sean Morgan downgraded Dorian LPG to In Line from Outperform with an $11 price target.
Dorian LPG provides market outlook update amid COVID-19 pandemic » 06:1305/2705/27/20
Global seaborne LPG…
Global seaborne LPG volumes remained buoyant during the first calendar quarter of 2020, totaling 26.9M tons, 3.5% above the same period in 2019. U.S. seaborne LPG exports have driven global growth, as such exports have increased to record levels during the first calendar quarter, totaling 11M metric tons and representing 33.2% annual growth. Elevated U.S. exports were balanced by slightly declining Middle Eastern export volumes. The Middle East exported 9.2M metric tons of LPG during the quarter, a 7.6% year-over-year decrease. During the quarter, LPG imports in Asian markets such as India, Japan, and South Korea all witnessed year-over-year growth. Chinese LPG imports, however, decreased 15.6% year-over-year to roughly 4M metric tons. The effects of COVID-19 reduced demand, while PDH plants operated at reduced capacity and maintenance was brought forward. Two Chinese PDH plants with 1.2M tons of annual throughput that were planned to start operations during the quarter were delayed. For the first calendar quarter, the Baltic VLGC Index averaged $67 per metric ton, reaching a quarterly high of $81 per metric ton in late January. For the second calendar quarter to date, the Baltic Index has averaged $51 per metric ton. Currently the VLGC orderbook stands at approximately 12% of the current global fleet. An additional 35 VLGCs, equivalent to roughly 3M cbm of carrying capacity, are expected to be added to the global fleet by calendar year-end 2021. The average age of the global fleet is now approximately ten years old.
Dorian LPG reports Q4 adj. EPS 81c, consensus 62c » 06:0605/2705/27/20
Reports Q4 revenue…
Reports Q4 revenue $95.2M, consensus $84.83M. Reports Q4 EPS 56c. John Hadjipateras, Chairman, President and CEO of the company, commented, "It is appropriate that I acknowledge the commitment of our nearly eight hundred seafarers, five hundred presently at sea, as well as the dedication of our shore-side staff. Their professionalism ensures our continued safe operation. Freight rates have recently fallen substantially, however, considering the uncertainty about the impact of the pandemic on demand and the price of crude and natural gas, I believe it is too early to make any predictions. As a company, Dorian LPG has, perhaps, never been in a stronger position than we are presently. As a result of our recent refinancing, we have increased our liquidity and decreased our cost of debt through an innovative and environmentally linked structure with new commercial banking partners."
Dorian LPG upgraded to Buy from Hold at DNB Markets » 05:5304/0804/08/20
DNB Markets analyst Mats…
DNB Markets analyst Mats Bye upgraded Dorian LPG to Buy from Hold with a $9 price target.
Deutsche Bank to host a virtual summit » 08:3304/0204/02/20
ASC, CMRE, CPLP, DSX, EGLE, EURN, GLOG, GNK, INSW, LPG, NM, NMM, NNA, SALT, SB, SBLK, SFL, STNG, TK, TNP, TOO, ALIN
7th Annual Shipping…
7th Annual Shipping Virtual Summit will be held on April 2. Webcast Link
Dorian LPG downgraded to Hold from Buy at DNB Markets » 05:4703/0903/09/20
DNB Markets analyst…
DNB Markets analyst Nicolay Dyvik downgraded Dorian LPG to Hold from Buy with an $18 price target.