A handful of shipping stocks have left the rest in the dust this year. Dorian LPG (NYSE: LPG) is at the forefront. Its adjusted closing price, accounting for dividends, is up 63% year to date. On Monday, its share price hit its highest level since the company went public in 2014.
Dorian operates a fleet of very large gas carriers (VLGCs) that transport liquefied petroleum gas (LPG) — i.e., propane and butane — on long-haul voyages, mainly from the U.S. or the Middle East to Asia.
LPG exports have emerged as a major success story for the U.S. energy complex. America is the largest LPG exporter in the world, with 14.5 million tons of seaborne volume in the second quarter of 2023, the highest quarterly total ever, according to Dorian, citing data from Platts.
