HNA ups shareholding in Dorian LPG

The Chen Feng-led conglomerate becomes third largest shareholder in LPG ship owner.

Dorian LPG got a vote of confidence from a major shareholder as HNA Investment Management boosts its stake in the VLGC owner, according to a regulatory filing.

HNA now owns 6.4 million shares, an 11.2% stake, in the John Hadjipateras-led company. That is up from the 4 million, or 6.9% stake, HNA reported back in October.

HNA first built its stake in Dorian through acquiring 3.4 million shares from Scorpio Tankers, which at the time held 9.3 million shares in Dorian.

Dorian’s largest shareholders are Seacor Holdings at 16.1% and Kensico Capital Management at 13.8%, according to the last proxy statement.

HNA reported the shares as held through HNA Logistics and Sino Energy Holdings. HNA Investment Management is part of diversified conglomerate HNA Group.