DealsJun 23, 2026, 06:07 AM
Dorian LPG Orders New VLGC, Sells 3 Vessels for $256M
AI Summary
Dorian LPG Ltd. announced a strategic fleet renewal and expansion plan, including an agreement to build one new 90,000 cbm VLGC for approximately $115 million, expected for delivery in July 2029. Concurrently, the company signed agreements to sell three existing VLGCs for an aggregate of approximately $256 million, with deliveries anticipated by Q4 2026. The company also provided strong forward chartering estimates, with 99% of Q2 2026 days fixed above $68,000 per day and 34% of July 2026 days fixed above $100,000 per day.
Key Highlights
- Ordered one 90,000 cbm VLGC from HD Hyundai for approximately $115 million.
- New VLGC is a dual-fuel Panamax vessel with a shaft generator, expected for delivery in July 2029.
- Signed memorandums of agreement to sell three VLGCs (2014-built Corsair and two 2015-built) for aggregate proceeds of approximately $256 million.
- Vessel sales are expected to be completed by the fourth calendar quarter of 2026.
- Estimated 99% of Q2 2026 calendar days fixed at a rate exceeding $68,000 per day.
- Estimated 34% of July 2026 calendar days fixed at a rate exceeding $100,000 per day.
Price Impact
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