Gas sector
8 covered companies
Dividend yields and the next payout set your own rates →
| Company | Yield | Last DPS | TTM | Next · our model | Company said | Fleet | |
|---|---|---|---|---|---|---|---|
| FLNG Flex LNG | 10.6% | $0.75/q | $3.00/yr | $0.75 2026Q3 | — | 13 LNGC 13 | |
| BWLPG.OL BW LPG | 10.4% | $0.95/q | $2.59/yr | $1.31 2026Q3 low | 92% booked | 47 VLGC 47 | |
| LPG Dorian LPG | 6.2% | $1.00/q | $3.35/yr | $0.97–1.30 2026Q3 medium | 99% booked | 25 VLGC 25 | |
| CCEC Capital Clean Energy Carriers | 2.9% | $0.15/q | $0.60/yr | $0.15 2026Q3 | — | 17 LNGC 14 · Hmgc 2 · Container 1 | |
| GLNG Golar LNG | 2.2% | $0.25/q | $1.00/yr | $0.25 2026Q3 | — | 3 Flng 2 · Flng Conversion 1 | |
| NVGS Navigator Holdings | 1.3% | $0.07/q | $0.28/yr | $0.07 2026Q3 low | — | 54 Handysize 41 · Midsize 5 · Ethylene 5 · Small 3 | |
| ALNG.OL ALNG (Awilco LNG) | — | pending | — | no forecast · payout behaviour | — | 2 LNGC 2 | |
| EXM.BR EXMAR | — | € 0.27/q | — | no forecast · fleet composition | — | — | trailing twelve months incomplete |
Ranked by trailing yield — the only figure comparable across companies, since a dividend in dollars depends on the share price behind it. Dividends declared in NOK or DKK are converted at the Norges Bank rate on the price date and chipped fx. Earnings bridges that do not reconcile to reported net income: FLNG (ok), BWLPG.OL (insufficient data for an earnings bridge), LPG (ok), CCEC (reported figure missing), GLNG (derived), NVGS (ok), ALNG.OL (insufficient data for an earnings bridge), EXM.BR (reported figure missing) — shown once here rather than on every row.
Fleet and cost base
| Company | Fleet | On order | Opex /day | G&A /day | Debt service /day | Cash break-even | Realized TCE | Margin |
|---|---|---|---|---|---|---|---|---|
| ALNG.OL | 2 | — | — | — | — | not on file | $32,600 2026Q2 | — |
| BWLPG.OL | 47 | — | $7,420 | $4,317 | $13,685 | $25,374 cost lines | $74,000 2026Q2 | +$48,626 |
| CCEC | 17 | — | — | — | — | not on file | — | — |
| EXM.BR | — | — | — | — | — | not on file | — | — |
| FLNG | 13 | — | $16,084 | $1,592 | $27,274 | $44,950 derived | $86,119 2026Q2 | +$41,169 |
| GLNG | 3 | — | — | — | — | not on file | — | — |
| LPG | 25 | — | $8,758 | $5,870 | $14,668 | $29,295 derived | $75,926 2026Q2 | +$46,631 |
| NVGS | 54 | — | $9,481 | $2,270 | $9,821 | $21,572 derived | $33,946 2026Q2 | +$12,374 |
| Sector median | 17 n=7 | — | $9,120 n=4 | $3,294 n=4 | $14,176 n=4 | $27,334 n=4 | $74,000 n=5 | $43,900 n=4 |
Cash cost per vessel-day: operating cost, overhead, and interest plus scheduled debt repayment, each divided by the same quarter's vessel days (derived), or the figure the company prints itself (issuer). “Not on file” means an input is missing — hover for which — and the page will not assume it is zero. Margin is the latest realized TCE less the break-even. Fleet age, eco and scrubber share and loan-to-value are not shown: no source on file.
Booked coverage
| Company | Class | Booked | At | Still open | Quarter | Said on |
|---|---|---|---|---|---|---|
| BWLPG.OL | VLGC | 39% | $44,800 | 61% | 2026FY | 2026-06-02 |
| LPG | VLGC | 99% | $88,000 | 1% | 2026Q3 | 2026-09-02 |
The share of days each company has already fixed and the rate it fixed them at, as it said itself — this quarter where it has spoken, else the quarter just closed. 6 of 8 companies have printed no booking for either.
Valuation
| Company | Price | Market cap | Net income, last 4Q | P/E | Earnings yield | Dividend yield |
|---|---|---|---|---|---|---|
| ALNG.OL | $0.36 2026-10-19 | — | — | — | — | — |
| BWLPG.OL | $24.91 2026-10-19 | — | $504.7m to 2026Q2 | — | — | 10.4% |
| CCEC | $20.41 2026-10-16 | — | $98.8m to 2026Q2 | — | — | 2.9% |
| EXM.BR | — | — | — | — | — | — |
| FLNG | $28.23 2026-10-16 | $1,527m | $102.7m to 2026Q2 | 14.9× | 6.7% | 10.6% |
| GLNG | $45.26 2026-10-16 | $4,586m | — | — | — | 2.2% |
| LPG | $53.60 2026-10-16 | $2,293m | $321.9m to 2026Q2 | 7.1× | 14.1% | 6.2% |
| NVGS | $21.33 2026-10-16 | $1,392m | $140.1m to 2026Q2 | 9.9× | 10.1% | 1.3% |
| Sector median | $1,910m n=4 | 9.9× n=3 | 4.5% n=6 |
Market cap is the latest USD close times the latest filed share count. P/E is trailing: the four most recent consecutive reported quarters, shown only when all four are on file and in USD. Price-to-NAV and EV/EBITDA are not shown — vessel values and net debt are not on file, and broker vessel values are licensed.
Rate context
This sector's rate series are licensed: the model uses them, and they are not republished here.
Realized vs benchmark
| Company | Realized fleet TCE | Benchmark (the row's own quarter) | Realization (4Q) | As of |
|---|---|---|---|---|
| ALNG.OL | 32,600 | — | — | 2026Q2 |
| BWLPG.OL | 74,000 | — | — | 2026Q2 |
| FLNG | 86,119 | — | — | 2026Q2 |
| LPG | 75,926 | — | — | 2026Q2 |
| NVGS | 33,946 | — | — | 2026Q2 |
Issuer-printed fleet TCE ÷ benchmark over trailing four quarters. Benchmarks are the printed peer figure where one exists, else derived from Gibson class rates weighted by the company's fleet mix, priced for the same quarter the realized figure covers (5.10: the column no longer reads this month's rate beside a 2026Q2 realized TCE). Index-linked players target >1.0×; spot players track the benchmark.