US liquified petroleum gas shipping firm Dorian LPG has secured its third sale and leaseback deal in Japan, with a $56m sale and bareboat charter agreement for a VLGC built in 2015. The agreement includes a net cash proceed of $70m and a mandatory buyout in 2031, with the option for an early purchase. Some of the net proceeds will be used by Dorian LPG to pay down debt. In February, the company agreed a deal for the VLGC Concorde for the same price.
US liquified petroleum gas shipping firm Dorian LPG has secured its third sale and leaseback deal in Japan, with a $70m sale and bareboat charter agreement for a VLGC built in 2015. The agreement includes a net cash proceed of $56m and a mandatory buyout in 2031, with the option for an early purchase. Some of the net proceeds will be used by Dorian LPG to pay down debt. In February, the company agreed a deal for the VLGC Concorde for the same price.