Norwegian shipowner Avance Gas has secured time charter agreements for three of its very large gas carriers (VLGCs) for a period of two years.
The Oslo-listed company has fixed the 2008-built Iris Glory and Venus Glory and the 2009-built Promise at an average hire level of around $30,000 per day. The vessels are delivered in September and October 2021.
John Fredriksen-controlled Avance Gas currently has a fleet of 13 VLGCs on the water and six dual-fuel VLGC newbuildings on order.
Fredriksen’s Hemen Holding launched a mandatory offer this month to acquire all shares in Avance Gas. The shipping tycoon currently owns close to 34% in Avance Gas through Hemen and Frontline and has offered NOK43 ($4.95) per share for the remaining stake in the company. The offer expires on October 14, 2021.