Dorian LPG Ltd. Announces VLGC Newbuilding Contracts, Forward Chartering Estimates, and New Credit Facility
Dorian LPG ordered three 90,000 cbm dual-fuel Panamax VLGCs from Hanwha Ocean for approximately $345 million, with deliveries scheduled for June, September, and December of 2030. For the quarter ending September 30, 2026, the company has fixed 99% of its calendar days at a rate in excess of $88,000 per day, excluding any potential demurrage. Dorian also entered a new seven-year $368.4 million credit facility on September 2, 2026, priced at 140 basis points over SOFR, that consolidates four existing facilities into one and includes a $200 million accordion to support future growth. CEO John C.
Key figures
- Deal Value Usd
- 345000000
- Fleet size
- 25 VLGCs
- Shipbuilder
- Hanwha Ocean
- Newbuild type
- dual-fuel Panamax VLGCs
- Drawn at close
- 193800000
- Margin over sofr
- 140 bps
- Delivery schedule
- June, September, and December 2030
- Accordion facility
- 200000000
- Q3 flexed day rate
- >$88,000 per day
- Term loan component
- 213400000
- Credit facility size
- 368400000
- Credit facility tenor
- seven years
- Newbuild vessel count
- 3
- Q3 calendar days fixed
- 99%
- Revolving credit component
- 155100000
- Newbuild vessel capacity cbm
- 90000
- Revolver draw for clermont refinance
- 16000000
AI analysis
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