John Hadjipateras’ Dorian LPG has strengthened its balance sheet following a sale-and-leaseback deal involving one of its modern VLGCs.
New York-listed Dorian has sold the 84,000-cbm Corsair (built 2014) for $65m, it announced today.
The VLGC giant will take the vessel back on a 12-year bareboat charter with repurchase options kicking in after two years.
Cash boost
Hadjipateras says the deal is a further step to “enhance our financial profile”, with the leaseback improving liquidity and offering optionality to a market recovery.
