Dorian LPG is exploring a bond issue in a move that would strengthen its cash position.

New York-listed Dorian has hired ABG Sundal Collier and Pareto Securities to arrange investor meetings in the UK, US and Nordic region with a view to an offering.

The shipowner has not said how much it intends to collect from the potential fundraiser.

Dorian had over $30m in cash and a further $50m in restricted cash at the end of 2016.