Dorian LPG Ltd. (LPG) announced on Friday that it has reached an agreement with Hanwha Ocean Co., Ltd. (042660.KS) to construct three 90,000‑cubic‑meter dual‑fuel Panamax very large gas carriers for about $345 million.
Delivery of the vessels is expected in June, September, and December 2030.
The newbuildings will be equipped with dual‑fuel engines that can run on LPG as well as conventional low‑sulfur fuels, and will include shaft generator systems to provide onboard power while at sea.
The company added that the ships will feature energy‑efficient hull designs and propulsion systems.
The company noted that it has secured 99 % of its calendar days for the quarter ending September 30, 2026 at rates exceeding $88,000 per day.
This estimate does not account for possible demurrage charges from voyages completed in September.
Additionally, the company secured a new seven‑year $368.4 million credit facility on September 2 to refinance existing debt.
The facility comprises a $213.4 million term loan, a $155.1 million revolving credit line, and a $200 million accordion facility to support future expansion.
On Thursday, Hanwha Ocean Co. closed 0.35 % higher at KRW 86,800 on the Korea Stock Exchange.
In pre‑market trading, Dorian LPG rose 0.06 % to $53.60 on the New York Stock Exchange.
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