Dorian LPG Ltd. a leading owner and manager of modern VLGC's (very large gas carriers), today announced that it has entered into a Memorandum of Understanding ("MOU"), with HNA Logistics Group Co., Ltd. ("HNA Logistics") to explore opportunities in the liquefied petroleum gas ("LPG") logistics market,the company announced in its press release.
John Hadjipateras, Chairman, President and Chief Executive Officer commented, "We are very pleased to form a strategic relationship with HNA Logistics. Their unique presence in the Chinese market creates opportunities to develop energy related transportation, finance, infrastructure and distribution. We will focus our efforts in this important market to forge relationships with Chinese LPG ship charterers and LPG end users."
"The MOU with Dorian LPG presents a significant opportunity for our company to collaborate with a leader in the LPG industry." Director and Vice President of HNA Logistics, Mr. Ximen "Steve" Chen, commented, "We will jointly engage in the development of green energy logistics which includes LPG vessel investment, gas supply chain solutions and infrastructure in the Chinese market, with the ultimate goal of together building an LPG distribution business in China to take advantage of the significant opportunities for growth in the global LPG industry."
Separately, Dorian LPG is pleased to announce that it has today taken delivery of the eco VLGC "Comet" from Hyundai Heavy Industries Co. Ltd in Ulsan, South Korea. The vessel will immediately enter into a 5-year time charter with Shell.
About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGC's. Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 19 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdom and Piraeus, Greece.