Dorian doubles result in its first quarter

Gas shipping company Dorian LPG's net earnings came to USD 12.7 million in the company's first quarter interim report. Several factors support the market for large gas carriers, says the company.

Photo: PR / Dorian LPG

Dorian LPG doubled its net earnings in the first quarter, booking USD 12.7 million in comparison to USD 6 million in the same period last year, reveals the interim report.

The company's TCE rates for the fleet increased 39 percent in the quarter to USD 41.249, largely due to a more "favorable" mix in revenue, writes Dorian. Meanwhile, fleet utilization in the company's pool Helios dropped to 82.3 percent compared to 98.4 percent in the same period last year.

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