Marshall Islands-based Dorian LPG Ltd. signed a memorandum of understanding with Shanghai-based HNA Logistics to explore opportunities in the liquefied petroleum gas (LPG) logistics market, Dorian said Monday.
The companies will collaborate to develop green energy logistics including LPG vessel investment, gas supply chain solutions and infrastructure in the Chinese market.
The companies said their ultimate goal is to build an LPG distribution business in China.
“We will focus our efforts in this important market to forge relationships with Chinese LPG ship charterers and LPG end users,” Dorian Chairman, President and CEO John Hadjipateras said.
Dorian also announced Monday that it took delivery of the eco very large gas carrier (VLGC) “Comet” from Hyundai Heavy Industries.
The vessel will immediately enter into a 5-year time charter with Shell.
Dorian currently owns and operates four VLGCs and one pressurized LPG vessel.
The company has 18 eco VLGCs on order.