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Avance Gas clinches three new charters

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.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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