Dorian LPG Q1 Earnings Call Highlights

• Freight Boom: The Hormuz Blockade Payday

Dorian LPG (NYSE:LPG) reported grounds quarterly chartering show for its fiscal archetypal 4th of 2027, arsenic disruptions to Middle East LPG proviso and congestion astatine the Panama Canal supported elevated freight rates and longer shipping routes.

Chief Executive Officer John Hadjipateras said the institution declared a $1-per-share dividend totaling $42.8 million. The outgo is Dorian's 20th dividend and brings cumulative dividends since its archetypal nationalist offering to much than $810 million, portion full shareholder superior returns person surpassed $1 billion.

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The institution reported adjusted EBITDA of $165.4 cardinal for the 4th ended June 30, 2026, including a $30.1 cardinal summation from the merchantability of the vas Cobra. Dorian's reported time-charter-equivalent, oregon TCE, gross per disposable time was $75,926, the highest complaint successful its firm history, according to Chief Financial Officer Ted Young.

Middle East Disruption Reshaped LPG Trade Routes

Hadjipateras said the de facto closure of the Strait of Hormuz chopped disconnected astir each LPG proviso volumes from the Middle East during the quarter. Liftings from the portion fell to astir 3.4 cardinal tons, down much than 70% from the prior-year period, helium said.

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Importers including India and Indonesia, which had already begun diversifying their proviso sources, were forced to procure LPG from the U.S. Gulf Coast, expanding shipping distances and ton-mile demand. U.S. LPG exports reached astir 20.8 cardinal tons during the quarter, up 20% twelvemonth implicit twelvemonth and a grounds level, according to Hadjipateras.