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Case 5: Dorian LPG’s Rapid Fleet Growth: A Story of Maritime HR Planning and People Management

In: Strategic Human Resource Management and Employment Relations

Author

Listed:
  • Maria Progoulaki

    (The American College of Greece)

  • Konstantinos Tasoulis

    (The American College of Greece)

Abstract

Dorian LPG is a 200-year-old family shipping company that currently represents 10% of the world’s very large gas carrier (VLGC) LPG fleet and holds the second position globally. The company had a long experience in managing tanker vessels, transporting cargo for the world’s largest oil companies. The owner’s decision to enter a different market, that of liquefied petroleum gas (LPG) carriers, led to a fleet diversification and expansion programme that was materialised in a short time frame. The company raised funds from Norway and US stock exchange markets and ordered – initially – six new, technologically advanced, fuel-efficient and with large capacity vessels. Dorian took advantage of favourable market conditions and expanded its order book to 16 more vessels. The company had more than tripled its fleet within a period of less than 2 years; that is a great achievement for any shipping company. The rapid fleet expansion raised a great challenge of people management, both in terms of number, training and qualifications of the sea-going personnel, as well as of the people ashore. The number of Dorian shore staff only in its main branch office in Greece grew from 17 in 2002 to 47 people in 2017. Its sea staff grew from approximately 100 seafarers in 2002 to around 1000 in 2017. Dorian’s people management programme that focused especially on the recruitment, training and compensation cost about US$ 5 million. An extensive human resources (HR) planning for both sea- and shore-based personnel was designed, taking into consideration the special characteristics of the niche market, the stringent quality standards of the clients, and the availability of the right labour on the right time. While Dorian’s main source of strategic competitive advantage is its large, modern, young eco-class VLGC fleet, the management team acknowledges that the only thing that can make a difference in the long run is the management of people that man the fleet or direct the crew from ashore.

Suggested Citation

  • Maria Progoulaki & Konstantinos Tasoulis, 2022. "Case 5: Dorian LPG’s Rapid Fleet Growth: A Story of Maritime HR Planning and People Management," Springer Texts in Business and Economics, in: Ashish Malik (ed.), Strategic Human Resource Management and Employment Relations, edition 2, pages 215-227, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-90955-0_21
    DOI: 10.1007/978-3-030-90955-0_21
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