Dorian LPG partners with Phoenix Tankers to establish a VLGC pool
Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG"), a leading owner and manager of modern very large gas carriers ("VLGCs"), has entered into an agreement with Phoenix Tankers, a 100% subsidiary of Mitsui OSK Lines, to establish a VLGC pool, which is expected to commence operations on January 1st, 2015, the Company said Wednesday in a press release.
The pool will run from Singapore and London. (Phoenix Tankers currently manages a fleet of eleven VLGCs under a commercial pool agreement. Dorian LPG currently operates four VLGCs and has 18 newbuilding deliveries scheduled through January 2016),
Dorian LPG also reported in its financial results for the period July 1, 2013 (inception) to March 31, 2014 revenues of $29.6 million for the fiscal 2014 year from charter hire and voyage charters of three VLGC vessels and one pressurized 5,000 cbm vessel.
Dorian LPG is a pure-play LPG shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently has four modern VLGCs and one pressurized LPG vessel on the water. Dorian LPG has 18 ECO VLGC newbuildings due for delivery in 2014, 2015 and 2016 from HHI and Daewoo Shipping and Marine Engineering Ltd., including the 13 that it acquired from Scorpio Tankers. Dorian LPG has offices in Connecticut, USA; London, United Kingdom and Piraeus, Greece. Dorian LPG is incorporated in the Republic of The Marshall Islands.
