TransportationEXPANDCompleted
JM Baxi–SPM partnership acquired a second VLGC for about $80 million
Mumbai, Maharashtra21 Aug 2026
Mumbai-based JM Baxi Group, via Singapore-based JM Baxi Marine Energy Pte Ltd in a 50-50 partnership with Dubai-based SPM Shipping, acquired a very large gas carrier (VLGC) from Dorian LPG Ltd for about $80 million, according to market sources cited by ETInfra. The Bahamas-flagged VLGC 'Constellation' has been converted to the Singapore flag and renamed 'Tiny Daisy'.
Why it matters
Adds owned LPG shipping capacity for the JM Baxi–SPM partnership, increasing their ability to participate in long-term LPG carriage opportunities and charter tenders.
JM Baxi GroupJM Baxi Marine Energy Pte LtdSPM ShippingDorian LPG Ltd