The increasing trend by shipowners to form management joint ventures with third parties has seen Aurora LPG and Wilhelmsen Ship Management join forces to take care of the former’s VLGC fleet.
The JV company will be based in Hong Kong, and is a further sign that senior management at Aurora is distancing itself from merger talk led by Avance Gas. Oslo-listed Avance Gas, which failed last year to take over Dorian LPG, made a bid for Aurora LPG last month.
Shipmanagers forming JVs with owners is becoming common within the industry. Earlier this year Wilhelmsen Ship Management formed a similar venture to its Aurora LPG one with Greece’s Diana Shipping.