en.Wedoany.com Reported - Dorian LPG has reached an agreement with South Korean shipbuilder HD Hyundai to construct a 90,000-cubic-meter very large gas carrier (VLGC), scheduled for delivery in July 2029, at a purchase price of approximately $115 million.

The vessel is a dual-fuel Panama-max ship capable of transiting the old locks of the Panama Canal. It will also be equipped with a shaft generator to utilize mechanical energy generated by the main propulsion system.

In addition to this newbuilding order, the company has signed memorandums of agreement for the sale of three older vessels, with total proceeds estimated at approximately $256 million. The vessels for sale include the 2014-built Corsair and two ships built in 2015. The company expects to complete delivery by the fourth quarter of 2026. Dorian LPG stated that although the disposal plan is scheduled for completion in the final quarter of the year, there is no guarantee that the transactions will be finalized within that timeframe or at all.

Regarding current operations, the company estimates that for the quarter ending June 30, 2026, 99% of its fleet's calendar days have been chartered at a daily rate exceeding $68,000. For the subsequent month ending July 31, 2026, the company estimates that 34% of its calendar days have been locked in at daily rates exceeding $100,000. The above projections are based on transactions completed as of the close of business on June 23, 2026.

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