Dorian LPG has opened the door to the Chinese gas market after striking a deal with HNA Logistics Group.
John Hadjipateras-led Dorian, the world’s second largest VLGC owner, says the memorandum of understanding will see the new partners jointly explore opportunities in the LPG market.
Hadjipateras said in a statement: “[HNA’s] unique presence in the Chinese market creates opportunities to develop energy related transportation, finance, infrastructure and distribution.
“We will focus our efforts in this important market to forge relationships with Chinese LPG ship charterers and LPG end users.”
Ximen “Steve” Chen, a director at HNA, says the pact will involve the duo working together on vessel investments as well as gas supply chain solutions and infrastructure in the Chinese market.
The ultimate goal is to build together “an LPG distribution business in China to take advantage of the significant opportunities for growth in the global LPG industry”, he said.
Dorian, which today took delivery of the 84,000-cbm Dorian Comet that has been fixed to Shell for five years, boasts a fleet of 23 Vessels including newbuildings.