Tag Archives: LPG
LPG Shipping (BUY): Trump’s Total Trade War (27-page report)
With an escalating trade war between the US and China seemingly gathering momentum, we estimate VLGCs to be one of the hardest hit shipping sectors (excl. containers). The US-Sino trade constitutes ~8% of the global VLGC demand, but we find … Continue reading
LPG Shipping (BUY): Do Not Liquidate Palatable Growth (34-page report)
Recent chatter on the street is that the cyclical VLGC expansion has been cancelled for 2018. Shares fell 8% today and are down 16% since our March sector report. Thus, it would be prudent to reiterate why we believe 3Q...
LPG-US: Initiation (Neutral, TP 6.9)
Dorian LPG has a fleet of 22 modern Very Large Gas Carriers (VLGC) with four on long time charters and the rest by large exposed to the current lackluster spot market. Recent corporate actions highlights the continued necessity of shoring up...
AVANCE-NO: Initiation (BUY, TP 28)
Avance Gas has a fleet of 14 Very Large Gas Carriers (VLGC) mainly constructed in China and South Korea. Despite the full spot rate exposure in an abysmal market, the company will retain a robust liquidity position on our estimates ahead...
