Avance Gas offloads LNG carrier

Avance Gas offloads LNG carrier

Oslo-listed Avance Gas Holding has announced an agreement for the sale of its LNG carrier Gaea.

While the buyer has not been revealed, Avance said that delivery and payment are scheduled for December 2016.

The sale will generate about $13.3m of net proceeds. Avance Gas said it will further strengthen the company’s liquidity position.

In August, Avance Gas logged a $6.1m impairment loss for the very same vessel “due to changes in the market conditions” during the period.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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