Dorian LPG Ltd. Announces Delivery of the Cougar and Entry into Three-Year Time Charter for the Corsair and One-Year Time Charter for the Cobra
Jun 15, 2015, 04:28 ET
STAMFORD, Conn., June 15, 2015 /PRNewswire/ -- Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG"), a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), reported that today it took delivery of the ECO VLGC Cougar from Hyundai Samho Heavy Industries. Cougar, Dorian LPG's fourth newbuilding delivery, will initially trade in the spot market through the Helios Pool.
The Company is also pleased to announce that it has entered into a three-year time charter for the Corsair and, through the Helios LPG Pool, a one-year time charter for the Cobra, which is expected to deliver at the end of this month. The time charters for the Corsair and Cobra are with two separate oil majors.
About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Including the newly-delivered Cougar, Dorian LPG currently owns and operates seven modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 15 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdom and Piraeus, Greece.
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:
Ted Young; Chief Financial Officer: Tel.: +1 (203) 674-9695 or [email protected]
SOURCE Dorian LPG Ltd.
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