Value Investor's Edge Live #5: Dorian LPG's CFO On The LPG Shipping Industry Outlook
The Razor’s Edge - Podcast autorstwa Shortman Studios
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Ted Young, CFO of Dorian LPG (LPG) joined us live this morning (1 November 2019) to discuss the LPG shipping markets and specific company prospects and capital allocation potentials. This interview and discussion is relevant for anyone with LPG sector investments including Avance Gas (OTCPK:AVACF), BWLPG (OTCPK:BWLLF), and Navigator Holdings (NVGS). Topics covered 1:00 minute mark - Overall VLGC market review 4:00 - Does the arbitrage curve and forward cycle still look strong? 7:40 - What sort of risks should investors look for? 10:40 - Leverage is away down, what are your targets now? 12:50 - Capital allocation priorities for Dorian? Enough cash reserved? 14:40 - Priority for dividends, repurchases, financing deals 20:00 - Repurchases low thus far? Any reason for this? 23:30 - Possibility for a buyback deal with BW Group? Any covenants? 26:40 - Scrubber update on timing? Delay with shipyard? 28:30 - Discussion on scrubber fuel spreads? Savings per day? 34:00 - LPG retrofit potential? Any expenses in 2021? 37:50 - Reviewing utilization numbers - expectations for Q4/Q1? 39:40 - Update on the 4x charters coming off Q4-19?
