Dorian LPG transports liquefied petroleum gas, primarily propane and butane, across global sea routes. The company owns and operates a fleet of 27 Very Large Gas Carriers (VLGCs) and ranks as one of the world's largest independent owners in this category. Dorian generates nearly all its revenue through the Helios Pool, a commercial venture co-owned with MOL Energia that manages a combined fleet of 31 vessels. This pool structure provides Dorian with commercial scale and allows for a mix of spot voyages, contracts of affreightment, and short-term time charters. The business model relies on earning freight revenue net of voyage costs, with performance driven by spot market rates, vessel availability, and fuel efficiency. US-to-Asia trade routes represent 80-90% of fleet activity, serving global energy majors, commodity traders, and Asian importers. To optimize operating costs, Dorian employs scrubbers on 16 vessels to burn lower-cost fuel and operates six dual-fuel ships that can run on LPG. The company's strategy focuses on fleet renewal using dual-fuel technology and developing ammonia transport capabilities to provide optionality as global energy transition markets evolve.