Dorian LPG has entered into an agreement with South Korean shipbuilder HD Hyundai to construct one 90,000-cubic-metre very large gas carrier.
Scheduled for delivery in July 2029, the vessel carries a purchase price of approximately $115 million.
Designed as a dual-fuel Panamax vessel, the newbuilding will be capable of transiting the older locks of the Panama Canal. The vessel will feature a shaft generator designed to harness mechanical energy from the main propulsion system.
Alongside this order, the shipping company has signed memorandums of agreement to sell three of its older vessels for total proceeds of about $256 million.
The sale includes the 2014-built Corsair and two vessels built in 2015, which the company expects to deliver to their purchasers by the fourth calendar quarter of 2026.
Although these disposals are planned for completion within the final calendar quarter of the year, Dorian LPG stated there is no guarantee the transactions will be finalised by this timeframe or at all.
Looking at current operations, the company estimates it has secured employment for 99 per cent of its fleet calendar days for the quarter ending June 30, 2026, at a rate exceeding $68,000 per day.
For the subsequent month ending July 31, 2026, the firm estimates that 34 per cent of its calendar days are fixed at daily rates in excess of $100,000. These projections are based on transactions completed by the close of business on June 23, 2026.