Dorian LPG Sells VLGC Corsair for $81.8 Million
The asset sale is part of a disciplined fleet renewal and expansion strategy to deliver long-term shareholder value.
Dorian LPG Ltd. (LPG) completed the sale of the VLGC Corsair, a very large gas carrier built in 2014, for approximately $81.8 million. The transaction was structured as an asset purchase and was finalized on July 8, 2026.
The divestiture is part of a broader fleet optimization effort. The company previously announced memorandums of agreement to sell the Corsair along with two 2015-built VLGCs for aggregate proceeds of approximately $256 million.
The sale is a component of the company's broader operational goals. John C. Hadjipateras, Chairman, President, and CEO, stated, “We are confident in the growth prospects of the LPG transportation market and believe that our disciplined fleet renewal and expansion strategy, commitment to our people, focus on innovation and efficiency, along with a solid balance sheet will enable us to deliver long-term value for our shareholders”.
As the company retires older tonnage, it is investing in more efficient capacity. Dorian LPG recently entered into an agreement with HD Hyundai to construct one 90,000 cbm dual-fuel Panamax VLGC for approximately $115 million, with delivery expected in July 2029. The new vessel will feature a shaft generator to optimize operational power efficiency and reduce overall emissions.