STAMFORD, Conn., June 9, 2014 /PRNewswire/ --Dorian LPG Ltd. ("Dorian LPG" or the "Company") (NYSE: LPG) is pleased to announce that Tim Truels Hansen will join the Company as Chartering Manager, with effect from September 1st, 2014.
Mr. Hansen comes to Dorian LPG from AP Moeller Maersk where he began his career at sea, rising to the rank of captain of various sized LPG carriers. He came ashore in 1999, joining the Maersk team with responsibilities in several sectors. In 2002 he began to focus on the LPG sector and from 2004 until Maersk's exit from the LPG sector in 2013 was Senior Charterer responsible for the daily employment of a large fleet of LPG carriers worldwide.
Mr. Hansen will be moving to London from Denmark and report to Nigel Grey-Turner, the Managing Director of Dorian LPG (UK) Ltd.
Dorian LPG's Chairman, John Hadjipateras, commented, "We are looking forward to welcoming Tim to our team. His extensive experience in finding and securing term business, optimizing fleet performance for pools of ships, new project development for LPG carriers, COAs both in and out, vessel swaps and his outstanding reputation will be a great asset to the Company."
About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG now has 19 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdom and Piraeus, Greece.
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, competition in the tanker industry, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents, piracy or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
For additional information, contact:
Marina Hadjipateras; Investor Relations: Tel.: +1 (203) 978-1234
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SOURCE Dorian LPG Ltd.
