Fearnley Securities has maintained its “buy” rating on US-listed VLGC owner Dorian LPG on the back of expectations of continued US export growth to aid rate momentum.
The Norwegian investment bank believes this is particularly likely in the second half of this year as terminal expansions come on stream.
Fearnley Securities analysts Fredrik Dybwad and Nils Thommesen said current forward freight agreements at $40,000 per day for VLGCs support asset values, while higher US propane inventories and production will prop up export growth throughout 2025.