Dorian LPG orders new VLGC and agrees to sell three older ships

• Dorian LPG (NYSE:LPG) agreed to build one 90,000 cbm dual-fuel VLGC for delivery in July 2029 at approximately $115 million.
• The company also signed deals to sell three older VLGCs for total proceeds of about $256 million.
• Dorian LPG stated strong chartering with 99% of Q2 2026 days fixed above $68,000 per day as part of fleet renewal.

Dorian LPG (NYSE:LPG) entered into an agreement with HD Hyundai to construct one 90,000 cbm very large gas carrier for delivery in July 2029 at a price of approximately $115 million.

The company also signed memorandums of agreement to sell the 2014-built Corsair and two 2015-built VLGCs for aggregate proceeds of approximately $256 million, with expected delivery to buyers by the fourth quarter of 2026.

The new vessel will be a dual-fuel Panamax VLGC with a shaft generator to improve fuel efficiency and reduce emissions, while the sales of the older ships form part of the company’s fleet modernization.

Dorian noted there is no guarantee the sale transactions will close by the fourth quarter of 2026 or at all.

For the quarter ending June 30, 2026, Dorian LPG estimates it has fixed 99% of calendar days at rates above $68,000 per day, and 34% of July 2026 days above $100,000 per day.

Dorian operates a fleet of modern, very large gas carriers focused on LPG transportation worldwide.

The company continues to pursue a disciplined fleet renewal strategy that combines newbuildings with selective sales of older tonnage to maintain a young, efficient fleet positioned for long-term market growth.