Avance Gas offloads VLGC

Norwegian LPG carrier operator Avance Gas has announced the sale of the 2003-built VLGC Avance to an undisclosed buyer for a price of $35m.

The 82,500 cu m vessel is set to be delivered to the new owner before September, and the sale will generate around $17m in net cash proceeds for the company after debt repayment.

Avance Gas said the sale is in line with the company’s fleet renewal strategy.

The company currently has a fleet of 14 VLGCs, with a further two 91,000 cu m VLGCs under construction at DSME.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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