(RTTNews) – Dorian LPG Ltd. (LPG) on Friday announced that it has agreed with Hanwha Ocean Co., Ltd. (042660.KS) to build three 90,000-cubic-meter dual-fuel Panamax very large gas carriers for approximately $345 million.
The vessels are scheduled for delivery in June, September and December 2030.
The newbuildings will feature dual-fuel engines capable of using LPG and conventional low-sulfur fuels, along with shaft generator systems for onboard power generation during sea voyages.
The company said that the vessels will also incorporate energy-efficient hull forms and propulsion systems.
The company said it has fixed 99% of its calendar days for the quarter ending September 30, 2026, at rates above $88,000 per day.
The estimate excludes potential demurrage from voyages completed during September.
The company also entered into a new seven-year $368.4 million credit facility on September 2 to refinance existing debt.
The facility includes a $213.4 million term loan and a $155.1 million revolving credit facility, along with a $200 million accordion facility to support future growth.
On Thursday, Hanwha Ocean Co closed trading 0.35% higher at KRW 86,800 on the Korean Stock Exchange.
In the pre-market trading, Dorian LPG is 0.06% higher at $53.60 on the New York Stock Exchange.
