10 Worst Performing Energy Stocks in 2024

5. Dorian LPG Ltd. (NYSE:LPG)

1-Year Performance as of January 21: -36.03%

Market Cap as of January 21: $1.01 Billion

Number of Hedge Fund Investors: 20

Dorian LPG Ltd. (NYSE:LPG) is a leading owner and operator of modern Very Large Gas Carriers (VLGCs) used for the transportation of liquefied petroleum gas (LPG). The company serves major LPG exporters and importers, facilitating global trade in propane and butane. Dorian LPG Ltd.’s (NYSE:LPG) business model revolves around long-term charter agreements and spot market operations.

Dorian LPG Ltd. (NYSE:LPG) is committed to reducing its environmental impact and promoting sustainability throughout its operations. The company has made significant investments in scrubber technology, which has yielded substantial cost savings and reduced emissions. Dorian LPG Ltd. (NYSE:LPG) is also exploring the potential of wind-assisted ship propulsion systems, which offer a promising solution for reducing fuel consumption and lowering greenhouse gas emissions.

Dorian LPG Ltd. (NYSE:LPG) is also prioritizing investments in fleet renewal and expansion. The company has recently announced the addition of a new VLGC to its fleet, which is scheduled for delivery in 2026. Furthermore, the company is retrofitting some of its existing vessels to enable it to carry ammonia to diversify its cargo capabilities and capitalize on emerging trends in the energy market.