Dorian LPG books VLGC newbuild and sheds older trio

Dorian LPG New York-listed VLGC owner Dorian LPG has ordered a new very large gas carrier at HD Hyundai as it moves to renew its fleet in a strong freight market. The John Hadjipateras-led company has signed up for one 90,000 cu m VLGC at the South Korean shipbuilding group for delivery in July 2029. The vessel is priced at about $115m. Dorian LPG said the newbuilding will be a dual-fuel panamax unit, designed to transit the older locks of the Panama Canal. The company has also struck deals to sell three VLGCs for combined proceeds of about $256m. The vessels being sold include the 2014-built Corsair and two 2015-built VLGCs. The ships should change hands by the fourth quarter of this year. The fleet move comes as VLGC earnings have pushed sharply higher. The company said it had fixed 99% of its available days for the quarter ending June 30 at more than $68,000 per day. For July, the company said it had fixed 34% of its days at more than $100,000 per day. Dorian LPG currently owns and operates 27 VLGCs, made up of six dual-fuel eco vessels, 19 eco vessels and two modern VLGCs. “We are confident in the growth prospects of the LPG transportation market and believe that our disciplined fleet renewal and expansion strategy, commitment to our people, focus on innovation and efficiency, along with a solid balance sheet will enable us to deliver long-term value for our shareholders,” chairman, president, and CEO Hadjipateras said. Adis Ajdin Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy. Read Next June 23, 2026 Hormuz hotline opens between US and Iran June 23, 2026 Ras Laffan blast raises fresh questions over Qatar LNG recovery June 22, 2026 Washington and Tehran issue conflicting messages on Hormuz transits June 22, 2026 Fortescue lines up dozen ammonia-capable newcastlemaxes from CMB.TECH June 19, 2026 Hormuz reopening clouded by diplomatic cracks and mine risks