USD 940m order for 8x VLGCs with '29 and '30 deliveryIncreasing net LTV from 17% to 37%, but the company is net cash by end '28Should be seen as normal fleet renewal (reduces average age from 10.9 to 8.5 years)BUT, the VLGC orderbook goes from 34.8% to 36.9% with one announcementSupply growth concern is growing before fleet growth is set to accelerate
