In a statement issued after the close the New York-quoted operator indicated that the venture, Helios LPG Pool, intends to commence operations on 1 April 2015.
The pool will be jointly managed by Dorian and Phoenix Tankers, the MOL subsidiary that consummated a union with the Connecticut-based owner in the summer of last year.
Today, Dorian pointed out that Helios LPG, which boasts bases in both London and Singapore, will be led by two managing directors, Tim Hansen and Harpal Cheema.
Hansen, the chartering manager of Dorian LPG (UK), is going to be in charge of the new company’s UK office, which means Cheema, the general manager of Phoenix’s LPG division, will oversee the outpost in the Lion City.
The operator also noted that its chief executive, John Hadjipateras, has been named chairman of Helios LPG’s board of directors.
In addition to long-time lieutenant Nigel Widdowson, Hadjipateras will be joined by Tetsuro Ishiura and Yoshikazu Urushitani. The former is Phoenix’s managing director and the latter serves as a senior vice president at the same company.
He praised the pool’s “combined management team” and reminded investors that its goal is to become the world’s leading provider of “flexible LPG transport solutions” while maintaining the highest standards of safety and reliability.
“We are very optimistic about this partnership and the opportunities it presents,” Ishiura added. “Together we have formed a first class modern ECO VLGC pool that will serve as a leader in LPG transportation worldwide."
Dorian indicated that Helios LPG will operate eight vessels at the outset but it is widely believed that more will be added in the coming months.The current total includes four of the Stamford, Connecticut-based owner’s VLGCs.
