New York-listed owner of VLGCs Dorian LPG has entered into an agreement with Hanwha Ocean to build three 90,000 cbm dual-fuel panamax VLGCs for delivery in June, September, and December of 2030 for a total price of approximately $345m.
The very large gas carrier newbuildings will feature dual-fuel engines capable of operating on LPG and conventional low-sulphur fuels, as well as a shaft generator system that enables onboard power generation during sea passages.
Their hull forms and main engines will be optimized to accommodate larger-diameter propellers and energy-saving devices around the propellers.
Dorian’s newbuildings will be built consistent with its long-term approach of investing in technologically advanced ships.
John C. Hadjipateras, chairman, president and chief executive officer, said, “These newbuildings reflect our measured approach to fleet renewal coupled with a capital allocation strategy that drives long-term shareholder value creation.”
The VLGC owner also reports the following estimates for its fleet for the quarter ending September 30, based on the close of business on September 4 and estimates that it has fixed 99% of its calendar days at a rate in excess of $88,000 per day.
The company said this amount does not include any potential demurrage that may be earned for voyages completing during September 2026.
Dorian LPG’s fleet of twenty-five VLGCs currently includes six dual-fuel VLGCs, seventeen VLGCs, and two VLGCs.
