Dorian LPG Ltd. Announces Sale of its 2006-built VLGC "Captain Markos NL"
Dorian LPG Ltd. (NYSE: LPG) has announced the sale of its VLGC, Captain Markos NL, a debt-free vessel built in 2006. The company expects to deliver the vessel by August 31, 2021, and anticipates cash proceeds of $42.0 million to $43.0 million. Following this transaction, Dorian LPG's fleet will consist of 22 modern VLGCs, reinforcing its position in the liquefied petroleum gas shipping sector.
- Sale of Captain Markos NL expected to generate cash proceeds between $42.0 million and $43.0 million.
- The company's fleet will consist of 22 modern VLGCs after the sale.
- None.
STAMFORD, Conn., Aug. 17, 2021 /PRNewswire/ -- Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG"), a leading owner and operator of modern and ECO very large gas carriers ("VLGCs"), today announced that it entered into an agreement to sell the Captain Markos NL, a 2006-built, debt-free VLGC, which, as previously announced, had been classified by the Company as a vessel held-for-sale. The Company expects to deliver the vessel to its purchaser by August 31, 2021 and to realize cash proceeds between
Forward-Looking Statements
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," "will," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's current expectations and observations regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Where the Company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, the Company's forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. The Company's actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company's financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. For more information about risks and uncertainties associated with Dorian LPG's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Dorian LPG's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The Company does not assume any obligation to update the information contained in this press release.
About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Upon completion of the aforementioned sale, Dorian LPG's fleet will consist of 22 modern VLGCs. Dorian LPG has offices in Stamford, Connecticut, USA; London, United Kingdom; Copenhagen, Denmark; and Athens, Greece.
Visit our website at www.dorianlpg.com
For further information:
Dorian LPG Ltd.
Ted Young
Chief Financial Officer
(203) 674-9900
IR@dorianlpg.com
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SOURCE Dorian LPG Ltd.
FAQ
What is the sale amount for the Captain Markos NL?
When is the Captain Markos NL expected to be delivered?
How many vessels will Dorian LPG operate after the sale?
