Stamford-based Dorian LPG Ltd., a publicly traded shipping company that transports liquefied petroleum gas around the world, said it has agreed to build a new vessel and sell three older ships as part of a fleet renewal effort.
The company said it entered into an agreement with HD Hyundai to build a 90,000-cubic-meter very large gas carrier for about $115 million. The vessel is expected to be delivered in July 2029.
Dorian also said it signed agreements to sell its 2014-built Corsair and two 2015-built very large gas carriers for total proceeds of about $256 million. The company expects to deliver the three vessels to their buyers by the fourth quarter of 2026, but said the deals are not guaranteed to close.
According to Dorian, the new vessel will be a dual-fuel Panamax carrier designed to fit through the older Panama Canal locks. It will also include a shaft generator intended to improve efficiency and reduce emissions.
Dorian is headquartered in Stamford and operates a fleet of 27 very large gas carriers.
