It will see Phoenix's 11 VLGCs and Dorian’s trading fleet of four VLGCs combined under management from Singapore and London. Dorian also has 18 newbuildings on order.

John Hadjipateras, Dorian’s chief executive, said: "We expect that our jointly operated pool, comprising the world's number one ECO VLGC fleet as well as other modern vessels, will be very well positioned to provide efficient service to customers in the Eastern and Western Hemispheres."

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