Dorian LPG has ordered a new very large gas carrier from HD Hyundai for approximately $115 million, with delivery expected in 2029, while separately agreeing to sell three VLGCs to unnamed purchasers for $256 million. The newbuilding will be a dual-fuel panamax unit designed to transit the older locks of the Panama Canal. The vessels being sold include the 2014-built Corsair and two 2015-built VLGCs, with the transactions expected to close by the fourth quarter. The company also reported that it had fixed 99% of its available days for the quarter ending June 30 at more than $68,000 per day, and for July it had fixed 34% of its days at more than $100,000 per day.
Dorian LPG LtdDorian LPG sells three VLGCs for $256M and reports strong charter rates, boosting cash flow and financial position.
Hyundai Heavy Industries Holdings Co LtdHD Hyundai wins a $115M order to build a new VLGC for Dorian LPG, indicating demand for its shipbuilding services.