Dorian LPG Ltd. (NYSE:LPG) ("Dorian"), a leading owner and operator of modern very large gas carriers ("VLGCs"), today announced that it entered into an agreement with HD Hyundai to build one 90,000 cbm VLGC for delivery in July 2029 for a price of approximately $115 million. Dorian also has signed memorandums of agreement to sell the 2014-built Corsair and two 2015-built VLGCs for aggregate proceeds of approximately $256 million. Dorian expects to deliver each of the vessels to their purchasers by the fourth calendar quarter of 2026. There is no guarantee that these transactions will be completed by the fourth calendar quarter of 2026 or at all.

Dorian also reports the following estimates for its fleet for the quarter ending June 30, 2026, based on the close of business today and estimates that it has fixed 99% of its calendar days at a rate in excess of $68,000 per day. For the month ending July 31, 2026, the Company estimates that it has fixed 34% of its calendar days at a rate in excess of $100,000 per day.

Dorian’s new building will be a dual-fuel Panamax VLGC, allowing the vessel to pass through the less congested "old" Panama Canal locks. Additionally, she is being built with a shaft generator. The integration of a shaft generator allows the vessel to harness mechanical energy from the main propulsion system, optimizing operational power efficiency and reducing the vessel’s overall emissions.