Dorian LPG Ltd. (NYSE:LPG) Q3 2023 Earnings Call Transcript

So again, when you calculate the TCE returns on those, you will have to take that with a pinch of sold as well. And then you have like a premium market has been U.S. to the West, where that’s a difficult market to operate in, because you are open quite close to the low posts. And as I mentioned before, sometimes the fixtures are 5 to 6 weeks ahead, when we fix the ship, so you’re hardly opening the AG, when you are opening the Far East story when you fix the ships, let alone open 14 days on the low port. So a lot of people avoid giving ending up in the western due to these reasons. But they do pay a premium. So if you kind of figure out how to manage it, and then the attractive market for some, so €“ but that also again when you then your earnings is really depending on where I come open on the previous whereas if I’m open in the West and go to the Far East, of course that will give you a significantly higher return on discharge versus balancing from the East, and then ending up on a short version in the West.

So these are kind of the variances as you see and as we fix sometimes 5 to 6 weeks ahead, if the market is tight; if the market is not so tight, and you will fix 2 to 3 weeks ahead in the West. But in the East, they will be more like 10 to 30 days ahead. So 30 days in the tight market, 10 days I’m not sure tight markets. And that’s, of course, again, kind of the lack that you would have to use would depend on how tight is the market and how hard to fix that.

John Hadjipateras: Thanks, Tim. Sean, is that giving you more than you want? Or

Sean Morgan: Yeah. No, that’s great, Tim. Thanks. A lot of deep nuance on kind of how it works.

John Hadjipateras: We thought it would be useful.

Sean Morgan: Yeah. That’s great. Okay.

John Hadjipateras: Yeah. Thank you.

Operator:

Theodore Young: Thanks, John.

John Hadjipateras: Thanks, guys. Thank you very much. Thank you. Darryl, I think we’re done. Thank you very much everyone for joining us, and we look forward to next quarter’s call. Thanks again. Bye-bye.

Operator: Thank you. This does conclude today’s teleconference. We appreciate the participation. You may disconnect your lines at this time. Thank you and enjoy the rest of your day.