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Dorian LPG expects more balanced VLGC market

Dorian booked a second quarter deficit on its bottom line, but "the market has become more balanced", writes the company's management. The carrier also provides a figure for losses incurred from failed M&A talks with BW LPG.

Photo: Dorian LPG

Despite Dorian LPG's rates and revenue having increased during the period, the tanker carrier still booked a deficit in its the second quarter of its fiscal year.

The daily time-charter rate for Dorian's VlGC fleet, comprised of 22 ships, was USD 20,973, which corresponds to an increase of 16.4 percent relative to the same period last year. The rate increase was driven by higher spot market rates, which again were driven by bunker prices, writes Dorian LPG.

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