Dorian LPG reports $55.4m net income for Q2 FY26

Dorian LPG has reported a net income of $55.4 million for the quarter ended September 30, 2025. The company, which released its investor highlights for the second quarter of its 2026 fiscal year, reported a strong fleet-wide time charter equivalent (TCE) earning of $53,725 per day. Net cash provided by operating activities for the quarter was $46.4 million.

The company’s fleet, which operates in the Helios LPG Pool, achieved an average TCE of $53,119 per day for the pool.

Market conditions were supported by a four per cent year-on-year growth in global seaborne LPG volumes, with US waterborne exports also increasing by four per cent year-on-year.

Dorian highlighted the economic attractiveness of its dual-fuel vessels, noting the fuel differential between LPG and VLSFO averaged $132 per tonne.

The company’s 16 scrubber-fitted vessels also benefited from savings, with the differential between HSFO and VLSFO averaging $74 per tonne, equating to savings of $1,140 per day.

During the quarter, the company used $42.7 million in cash for financing activities, which included $26.3 million in dividends paid and $2.9 million in common stock repurchases.

As of September 30, 2025, Dorian LPG had $268.4 million in total cash and restricted cash, and $530 million in total debt obligations.