Door open for Dorian MLP

Dorian LPG could join the line of shipowners looking to complete the listing of an MLP, a top analyst says.

New York-quoted Dorian this week teamed up with HNA Logistics Group to explore opportunities in the LPG market.

Eirik Haavaldsen of Pareto Securities says the alliance could lead to long-term charters for Dorian, opening the door for an MLP down the road.

While MLP’s have been popular in other sectors, notably the LNG shipping market, it would be the first for a VLGC owner.

Haavaldsen added: “Dorian still targets a significant portion of their fleet on long term TCs, and while this will not imply the super-profits we will continue to see in the spot market, it is a good fit with an MLP.”

The alliance with HNA came during a busy week for Dorian.

It has joined forces with MOL division Phoenix Tankers to forge a VLGC pool and taken delivery of two newbuildings from Hyundai Heavy Industries.