Dorian LPG Ltd. has declared its options to construct three additional Very Large Gas Carriers (VLGCs) at Hyundai Heavy Industries Co., Ltd. (HHI) in South Korea.
The three additional VLGC’s will be similar to the initial fuel-efficient VLGC newbuildings ordered at HHI in April 2013. The company expects to take delivery of the three VLGCs in the second, third and fourth quarters of 2015, respectively.
The company has also entered into five-year time charters for two of its VLGCs. The charters are expected to commence during the third and fourth quarters of 2014.
Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, the company has 16 ECO VLGC newbuildings under construction and holds options for an additional three ECO VLGC newbuildings.
Press Release, February 25, 2014