Dorian LPG Ltd has expanded its fleet of VLGCs (very giant fuel carriers) with the supply of a 93,000-cubic-meter (3.28 million cubic toes), dual-fuel newbuild.
The “Areion” was constructed by Hanwha Ocean Heavy Industries Co Ltd on the Okpo Shipyard in South Korea. It will likely be deployed on constitution beneath Helios LPG Pool LLC, collectively managed by Dorian and MOL Energia Pte Ltd, Dorian stated in a press launch.
“That is the second wholly owned LPG dual-fuel ship being added to Dorian’s fleet together with the 4 chartered-in LPG dual-fuel ships, elevating the proportion of low emissions different gasoline ships to over 20 p.c of its fleet”, stated Marshall Islands-registered Dorian.
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Areion can run on liquefied petroleum fuel (LPG) and gasoline oil. “The ship’s principal engine additionally operates on LPG as gasoline which reduces CO2 emissions by roughly 20 p.c, sulfur oxides, particulate matter and different pollution”, Dorian claimed.
“It’s outfitted with a hybrid scrubber, which may function in closed loop in ports or ECAs the place emissions and effluent should both be very low or prohibited”, it stated. “This scrubber is designed to emit decrease ranges of sulfur oxides, particulate matter and black carbon than the very low sulfur fuels oils extensively used at present within the marine gasoline markets”.
The brand new vessel has different marine energy tools and may perform all port operations with shore energy at any port the place chilly ironing is out there, supporting emission-free port operations, the corporate stated.
“The ship is battery power storage system (BESS) ready-fitted for hybrid battery energy administration system operation. BESS allows optimization of onboard energy era techniques eradicating blackouts whereas offering steady peak shaving of power necessities onboard”, Dorian added.
Dorian president and chief govt John C. Hadjipateras stated, “Scrubbers and LPG twin gasoline engines supply the potential to reinforce earnings by optimizing the gasoline selection, as does Areion’s capability to move full cargoes of LPG and ammonia”.
To fund the supply, Dorian borrowed $62.9 million primarily from Citibank NA. “The power has a $20.7 million industrial tranche, solely underwritten by Nordea with a 7-year tenor and margin of 1.8 p.c over SOFR, whereas Citi has supplied a $42.2 million facility, assured by Ok-Positive as to cost of principal and curiosity, with a 12-year tenor and a margin of 1 p.c over SOFR”, it stated.
Dorian’s fleet now consists of 28 vessels, of which 22 are owned by the corporate with the oldest inbuilt 2007, based on Dorian’s on-line fleet listing.
It expects the world’s fleet of VLGCs and really giant ammonia carriers (VLACs) to develop by 111 vessels, representing about 10 million cubic meters of carrying capability, by 2039, based on its quarterly report February 5, 2026.
“The common age of the worldwide fleet now stands at roughly 12 years, whereas the VLGC/VLAC orderbook represents round 27 p.c of the prevailing fleet”, the report stated.
To contact the creator, electronic mail jov.onsat@rigzone.com
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