Norwegian pure-play VLGC shipowner Avance Gas has entered into shipbuilding contracts with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) for two 91,000 cu m LPG dual fuel VLGCs.
The vessels, which add to two VLGCs the company already has on order at DSME, are scheduled for delivery in the fourth quarter of 2022 and first quarter of 2023.
Avance Gas says the order enhances its green profile, allowing the company to take another important step towards decarbonisation.
“The outlook for the freight market remains healthy, supported by continued strong US LPG exports and growing Asian demand. The price and terms are attractive and we expect that the vessels will also secure attractive financing in line with their environmentally friendly profile,” the company said in a release.
Avance Gas, whose largest shareholder is John Fredriksen via Hemen Holdings, owns and operates a modern fleet of 13 VLGCs.
