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Dorian more than doubles its revenue on higher rates and fleet utilization

TCE rates for liquefied petroleum gas shipping were 174 percent higher in the latest quarter for Dorian, and this is reflected in revenue as well as the bottom line. However, rates have "fallen substantially," says CEO John Hadjipateras.

Photo: PR / Dorian LPG/NYSE Euronext

Higher rates and higher fleet utilization brought black numbers on the bottom line and a revenue that more than doubled for Dorian LPG in the latest quarter.

The LPG shipping company uses a staggered fiscal year and thus presents numbers for the full year as well as the fourth quarter of the year ending March 31.

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