Dorian LPG

  • TickerLPG
  • ISINMHY2106R1100
  • ExchangeNew York Stock Exchange
  • SectorIndustrial Transportation
  • CountryUnited States
Jørgen Lian

Financing 2°C Shipping - Financial risk of future regulations

We have worked with KLP and other partners in the Green Shipping Programme to assess the risk for financial stakeholders in various shipping technologies within the VLCC, Capesize and 10k TEU container segments. We find: 1) relative attractiveness of short-dated assets with scrubbers; 2) high uncertainty among newbuild alternatives in an uncertain regulatory environment; 3) that current IMO targets seem within reach in our base case; and 4) that further tightening of regulations is needed to align shipping with the Paris Agreement. We find the current outlook favours LNG-fuelled vessels for ne...

Mats Bye

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Jørgen Lian

DNB Markets Shipping Conference: Decarbonisation takes centre stage

DNB’s 14th annual Energy & Shipping Conference culminated in yesterday’s shipping day. The main theme was decarbonisation of shipping, and its market impact today. Attendees included representatives from IMO and Trafigura, along with several shipping companies taking action towards ambitious decarbonisation targets. Also, the crude tanker and LPG panels both proved rather optimistic despite recent market lows.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Bullish Outlook Intact Amid rising Middle East tensions, investors have moved to safe-havens including Treasuries and gold, all while having a muted effect on the US equity market. At this point in time, the rising tensions have done virtually no damage to the bullish trends and indicators that continue to dominate the market. We remain bullish. • 10-Year Treasury. The 10-year yield has fallen to logical support at the uptrend or 1.75%, a level we expect to hold. A breakdown would raise concerns of a deeper pullback for US equities... see chart below. • Gold Testing Key Resistance. Gold...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Market remains in purgatory Purgatory is a reference we have used to describe the state of the market numerous times throughout 2019, and we believe this remains the case. Technical signals continue to suggest that while there are little-to-no signs for us to expect impending doom (economic data notwithstanding), there is also little to suggest an imminent broad market rally. Until these signals begin leading us one way or the other, our neutral outlook remains appropriate. • Small-caps, Transports, Banks. Small-caps underperforming large-caps remains on our list of concerns as it has for ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dorian LPG Ltd: 1 director sold after exercising options/sold

A director at Dorian LPG Ltd sold after exercising options/sold 50,000 shares at 13.120USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

Jørgen Lian

Financing 2°C Shipping - Financial risk of future regulations

We have worked with KLP and other partners in the Green Shipping Programme to assess the risk for financial stakeholders in various shipping technologies within the VLCC, Capesize and 10k TEU container segments. We find: 1) relative attractiveness of short-dated assets with scrubbers; 2) high uncertainty among newbuild alternatives in an uncertain regulatory environment; 3) that current IMO targets seem within reach in our base case; and 4) that further tightening of regulations is needed to align shipping with the Paris Agreement. We find the current outlook favours LNG-fuelled vessels for ne...

Mats Bye

Dorian LPG Minor model adjustments

We have updated our estimates, owing to the Q4 2021FY actuals. The numbers were in line with our previous estimates. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our USD17 target price.

Mats Bye

Dorian LPG (Buy, TP: USD17.00) - A final bite at 2021 estimates

Based on the recent guidance, we have lowered our VLGC earnings estimates and expect a TCE rate of USD47k/day for the final quarter of financial year 2021. This takes our Q4e adj. EBITDA 1% above consensus ahead of the report, due before market open on 19 May. We reiterate our BUY and have lifted our target price to USD17 (16), as we view the recent share buybacks as accretive to NAV.

Jørgen Lian

DNB Markets Shipping Conference: Decarbonisation takes centre stage

DNB’s 14th annual Energy & Shipping Conference culminated in yesterday’s shipping day. The main theme was decarbonisation of shipping, and its market impact today. Attendees included representatives from IMO and Trafigura, along with several shipping companies taking action towards ambitious decarbonisation targets. Also, the crude tanker and LPG panels both proved rather optimistic despite recent market lows.

Mats Bye

Dorian LPG (Buy, TP: USD16.00) - Returning profits to shareholders

Dorian LPG has announced a USD100m share buyback initiative, a clear testament that management deems the current trading range to be on the cautious side. With a one-year forward NAV of USD20/share, we agree, and reiterate our BUY and USD16 target price based on a 15% discount to steel values. The market looks to be facing a seasonal slowdown in the coming months, but we see activity picking up towards the summer.

David Martinsson ...
  • Frank Maaø
  • Jesper Ingildsen
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mats Bye
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Masdal
  • Jørgen Lian
  • Martin Hoang Nguyen
  • Mats Bye
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Tomi Railo
  • Viktor Trollsten

Northern Lights

Håkon Astrup ...
  • Mats Bye
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mats Bye
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Jimi Lehtonen
  • Jon Berggren
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Ford Equity US Rating and Forecast Report

Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.

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