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STAMFORD, Conn., Feb. 2, 2021 /PRNewswire/ Dorian LPG Ltd. (NYSE: LPG) (the Company, Dorian LPG, we, and our ), a leading owner and operator of modern very large gas carriers ( VLGCs ), today reported its financial results for the three months ended December 31, 2020.
Key Recent Development
Announced that we will commence a tender offer to purchase up to 7.4 million, or about 14.8%, of our common shares at a price of $13.50 per share.
Highlights for the Third Quarter Fiscal Year 2021
Revenues of $88.5 million and Time Charter Equivalent ( TCE )
(1) rate for our fleet of $42,298 for the three months ended December 31, 2020, compared to revenues of $85.4 million and TCE rate for our fleet of $43,410 for the three months ended December 31, 2019.
Signal launches CO2 emissions tool
Tanker and dry bulk market participants are now able to assess the CO2 impact when chartering ships optimally positioned for their cargo, thanks to a new update on the Signal Ocean platform. The service is used by shipowners, traders and oil majors who control around half of the world’s crude oil spot tonnage and cargoes to support their chartering decisions. The upgrade provides an independent estimate of CO2 emissions alongside Time Charter Equivalent (TCE) ratings.
The calculation takes into account the ballast leg of any voyage as well as any route deviations already taken by any given available vessel. Other factors include the vessel’s size, age, speed, loading conditions, shipyard, use of scrubbers and the type of fuel used.