Jun. 23 at 11:20 AM
$LPG Dorian LPG wins
$115M VLGC building contract, signs MoA to sell three VLGCs
Dorian LPG entered into an agreement with HD Hyundai to build one 90,000 cbm VLGC for delivery in July 2029 for a price of approximately
$115M. Dorian also has signed memorandums of agreement to sell the 2014-built Corsair and two 2015-built VLGCs for aggregate proceeds of approximately
$256M. Dorian expects to deliver each of the vessels to their purchasers by Q4. Dorian also reports estimates for its fleet for the quarter ending June 30 and estimates that it has fixed 99% of its calendar days at a rate in excess of
$68K per day. For July 2026, the company estimates that it has fixed 34% of its calendar days at a rate in excess of
$100K per day. Dorian's new building will be a dual-fuel Panamax VLGC, allowing the vessel to pass through the less congested "old" Panama Canal locks.
