Dorian LPG Sells Three VLGCs for $256M, Orders New $115M Vessel Amid Strong Chartering
LPG sits 65% above its 52-week low of $23.76 on elevated volume (2.3× avg).
Summary
Dorian LPG announced the sale of three Very Large Gas Carriers (VLGCs) for an aggregate of $256 million and ordered a new $115 million VLGC for delivery in July 2029. This fleet renewal strategy was initially disclosed in an 8-K filed earlier today. The company also reported strong Q2 chartering, with 99% of its fleet days fixed at over $68,000/day, and 34% of July days fixed at over $100,000/day. The asset sales generate significant cash and modernize the fleet, while the high chartering rates underscore strong operational performance and profitability. The vessel sales are expected to complete by Q4 2026.
At the time of this announcement, LPG was trading at $39.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $23.76 to $48.12. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.