STAMFORD, Connecticut, Feb. 24, 2014 /PRNewswire/ -- Dorian LPG Ltd. ("Dorian LPG" or the "Company") is pleased to announce that it has declared its options to construct three additional VLGCs at Hyundai Heavy Industries Co., Ltd. ("HHI") in South Korea. The three additional VLGC's will be similar to the initial fuel-efficient VLGC newbuildings ordered at HHI in April 2013. The Company expects to take delivery of the three VLGCs in the second, third and fourth quarters of 2015, respectively.
The Company is also pleased to announce that it has entered into five-year time charters for two of its VLGCs. The charters are expected to commence during the third and fourth quarters of 2014.
For further information, please contact:
Marina Hadjipateras, Corporate Communications: Tel.: +1 (203) 978-1234 / Mob.: +1 (203) 722-5087 or Ted Young, CFO: Tel: +1 (203) 978-1234
About Dorian LPG Ltd.
Dorian LPG is a pure-play LPG shipping company and a leading 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. Dorian LPG has offices in Connecticut, USA; London, United Kingdom and Piraeus, Greece. Additional information about the Company can be found on the Company's website: www.dorianlpg.com.
SOURCE Dorian LPG Ltd.