To be jointly owned by Dorian LPG and Phoenix Tankers, Helios LPG will operate eight VLGCs on the water.

The eight VLGCs include Dorian LPG’s Corvette, Corsair, Captain John NP and Captain Nicholas ML, of which two are ECO vessels.

Helios LPG chairman John Hadjipateras said: "With the combined management team and fleet that Dorian LPG and Phoenix Tankers have committed to the pool, we are confident that Helios LPG will offer the most flexible LPG transport solutions worldwide while also maintaining the highest standards of safety, reliability and trouble-free transportation solutions."

Phoenix Tankers managing director Tetsuro Ishiura said: "Together we have formed a first class modern ECO VLGC pool that will serve as a leader in LPG transportation worldwide."

US-based Dorian LPG currently owns six VLGCs and one pressurized LPG vessel. Construction on the company’s 16 ECO VLGC newbuildings is currently underway.

With offices in London and Singapore, Phoenix owns and operates eight modern VLGCs.