Liquefied Petroleum Gas Shipping News

Dorian LPG confirmed that Oslo-based BW LPG BW LPG  has submitted the names of three director candidates to stand for election at Dorian's 2018 Annual General Meeting of Shareholders. Dorian LPG, is a fully-integrated liquefied petroleum gas shipping company and the owner and operator of a large fleet of 22 modern very large gas carriers, has previously received a revised unsolicited proposal from BW LPG to combine with Dorian.Dorian's Board of Directors will review all of BW LPG's actions and respond as appropriate in due course. Dorian shareholders are not required to take any action at this time.John Hadjipateras, Dorian Chairman and CEO…

Dorian LPG, a leading owner and operator of modern and ECO very large gas carriers (VLGCs), has announced that the Company has entered into a $70.0 million sale and bareboat charter arrangement for the Corvette. The transaction was completed on similar terms as the two prior Japanese financing transactions. The Corvette Japanese Financing resulted in net cash proceeds of $56.0 million, $33.7 million of which was used to repay a portion of the 2015 Debt Facility. The Corvette Japanese Financing has a mandatory buyout in 2031 with early purchase options from March 16, 2021, has a 17.3 year amortization profile, and carries a fixed interest rate of 4.9%. Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs.

Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation. "We continue to find prompt employment out of the yard for our newbuildings, which highlights the underlying strength of the VLGC freight market and the success of the Helios LPG pool. The strong rate environment and our young, quickly-growing fleet have allowed us to generate results ahead of our expectations," John added. It has also reported fiscal second-quarter profit of $41.2 million. The liquified petroleum gas shipping company posted revenue of $74.9 million in the period.

The ECO VLGC Corvette, delivered from Hyundai Heavy Industries on January 2, 2015, is fitted with a Class and Flag State approved exhaust gas cleaning system (EGCS) provided by Clean Marine. The measurements of exhaust gas emission and washwater criteria are well below the required limits stated in the MEPC guideline 184(59). This ensures vessel compliancy with the 0.1% sulphur limit in ECAs, which has been in place from January 1 this year. The vessel is also compliant with the stricter U.S. EPA requirements of a pH above 6 in washwater, measured at the outlet.

Dorian LPG Ltd. operators of Very Large Gas Carriers ("VLGCs") says it has received the 'Corsair', the second VLGC in its newbuilding program. ECO VLGC "Corsair" was delivered from Hyundai Heavy Industries and will initially trade in the spot market. Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates five modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 17 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdom and Piraeus, Greece.

Dorian LPG Ltd., a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), today reported that it has taken delivery of the ECO VLGC "Corsair" from Hyundai Heavy Industries. The "Corsair" will initially trade in the spot market and is the second newbuilding to be delivered to the Company this year. Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates five modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 17 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdom and Piraeus, Greece.

Dorian LPG announce that Tim Truels Hansen will join the Company as Chartering Manager, with effect from September 1st, 2014. Dorian explians that Hansen comes to them from AP Moeller Maersk where he began his career at sea, rising to the rank of captain of various sized LPG carriers. He came ashore in 1999, joining the Maersk team with responsibilities in several sectors. In 2002 he began to focus on the LPG sector and from 2004 until Maersk's exit from the LPG sector in 2013 was Senior Charterer responsible for the daily employment of a large fleet of LPG carriers worldwide. He will be moving to London from Denmark and report to Nigel Grey-Turner, the Managing Director of Dorian LPG (UK) Ltd.

Dorian LPG Ltd. opened the New York Stock Exchange (NYSE) on Friday, May 9, 2014. The company’s senior management members and directors stood on the NYSE balcony as Dorian CEO, John Hadjipateras rang the bell. The bell ceremony followed the company’s New York Stock Exchange pricing on Wednesday and first day of trading Thursday. Dorian LPG is a liquefied petroleum gas shipping company and an owner and operator of modern VLGCs. Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG now has 19 ECO VLGC newbuildings under construction.

Norwegian shipping group Bergesen d.y. posted a return to pre-tax profits for the second quarter on Thursday and forecast higher operating profits for the full year, but warned an economic slowdown could hit the second half. "The board expects the group to generate a smaller operating profit in the second half than in the first half but to report a substantially higher operating profit for the year as a whole than last year," it said in a statement. The board said an anticipated slowdown in the global economy would affect second-half results compared with the first half. Bergesen shares were trading on the Olso bourse 1.2 percent down from Wednesday at 166 Norwegian crowns ($18.77). The total share index of Oslo bourse was off 0.2 percent.