Dorian LPG Ltd. Enters Into Memorandum Of Understanding With Hyundai Global Service Co., Ltd. To Cooperate On Vessel Upgrades

John Hadjipateras, Chairman and Chief Executive Officer of the Company, stated: "The cargo transported by our vessels is an energy source with well-documented environmental benefits relative to other fuels. We are undertaking this initiative with the dual goals of acting as a responsible corporate citizen and potentially achieving a significant competitive advantage that will benefit both our customers and shareholders."

Ki Sun Chung and Kwang Hean An, Co-CEO & President of HGS added, "We are pleased to be partnering with a first-class organization with whom we have a long-standing relationship.  Both HGS and Dorian LPG are committed to the advancement of technology that provides the global shipping industry alternatives to achieve compliance with important environmental mandates."

This initiative follows the conclusion of a study announced in September 2017 by Dorian LPG and the American Bureau of Shipping to evaluate the use of LPG as marine fuel in advance of the International Maritime Organization's (IMO) mandate to reduce Sulphur emissions by approximately 85% effective January 1, 2020.  The Company believes in the viability of LPG as an attractive and cost-effective alternative fuel that is widely available and inherently compliant with the IMO mandate. LPG as a fuel source has a significant advantage over other potential sources, including LNG, methanol and marine gas oil given the abundant availability of LPG from the shale exploration boom and the existing global distribution network and onshore and floating storage infrastructure for LPG.  As part of its recent new building program, Dorian LPG proactively included enhancements to its VLGC vessels design to allow for the option of using LPG as a marine fuel.

About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates twenty-two modern VLGCs. Dorian LPG has offices in Stamford, Connecticut, USA, London, United Kingdom and Athens, Greece.

Forward-looking Statements
This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's Annual Report on Form 10-K, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release. 

For further information:

Dorian LPG Ltd.
Ted Young
Chief Financial Officer
(203) 674-9900
[email protected]

Rose & Company
Lev Janashvili
Managing Director
(212) 257-4142
[email protected]

SOURCE Dorian LPG Ltd.