Avance Gas offloads VLGC

Norwegian shipowner Avance Gas has sold the 2008-built very large gas carrier (VLGC) Thetis Glory to undisclosed buyers.

The vessel will deliver next month and, following debt repayment, the Oslo-listed owner said it would generate around $22.5m in net cash proceeds and a book profit of some $6m.

“The sale follows the company’s fleet renewal strategy, reducing average age and emissions while improving the fuel efficiency of the overall fleet as we are about to take delivery of our second dual-fuel newbuilding from DSME in February,” the company said in Oslo Exchange filing.

John Fredriksen-controlled Avance Gas operates a fleet of 13 VLGCs on the water and six dual-fuel VLGC newbuildings on order.

Adis Ajdin

Adis is an experienced news reporter with a background 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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