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Dorian LPG orders three VLGCs for $345 million
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Dorian LPG orders three VLGCs for $345 million

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  • Dorian LPG (NYSE:LPG) agreed to build three 90,000 cbm dual-fuel Panamax VLGCs from Hanwha Ocean for approximately $345 million.
  • The company reported 99% of calendar days fixed for the quarter ending September 30, 2026, at rates above $88,000 per day.
  • Dorian LPG refinanced debt through a new $368.4 million seven-year credit facility to support financial flexibility and fleet renewal.

Dorian LPG (NYSE:LPG) entered an agreement with Hanwha Ocean to build three 90,000 cubic meter dual-fuel Panamax very large gas carriers (VLGCs) for approximately $345 million.

The new vessels are scheduled for delivery in June, September, and December 2030 and will feature dual-fuel engines capable of operating on LPG and conventional low-sulfur fuels, alongside onboard power generation systems.

The company stated that the vessels are designed with energy efficiency features, including optimized hull forms, main engines, larger-diameter propellers, and energy-saving devices, while Dorian reported 99% of calendar days fixed for the quarter ending September 30, 2026, at rates above $88,000 per day.

Dorian LPG also entered a new seven-year $368.4 million credit facility on September 2, 2026, consisting of a $213.4 million term loan and a $155.1 million revolving credit facility, with a $200 million accordion option for future growth.

Dorian LPG owns and operates modern VLGCs that transport liquefied petroleum gas globally, with its fleet strategy focused on vessel renewal, operational efficiency, and long-term shipping capacity.

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