Norwegian shipowner Avance Gas has landed a time charter agreement with French energy major TotalEnergies for its first dual-fuel very large gas carrier (VLGC) newbuild, Avance Polaris.
.The vessel is scheduled for delivery ex-yard in South Korea in January 2022, after which it will enter into a two-year charter. The Oslo-listed company said the time charter hire has a mechanism that gives both parties exposure to the market.
John Fredriksen-controlled Avance Gas currently has a fleet of 13 VLGCs on the water and six dual-fuel VLGC newbuildings on order.
At the end of September, the company announced it had secured time charter agreements for three of its VLGCs for a period of two years at an average hire level of around $30,000 per day. Financial details surrounding the latest deal have not been disclosed.
