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Bermuda, 13 January 2022 - Avance Gas Holding Ltd ("AGAS" or the "Company") have entered a contract to sell the 2008-built VLGC Thetis Glory with delivery in February after her current voyage. Following debt repayment, the sale will generate approximately USD 22.5 million in net cash proceeds and a book profit of approximately USD 6 mill.
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.
For further queries, please contact:
Kristian Sørensen, CEO
Tel: +47 22 00 48 10
Randi Navdal Bekkelund, CFO
Tel: +47 22 00 48 29
About Avance Gas:
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of very large gas carrier (VLGC) and operates a fleet of thirteen ships and six Dual Fuel LPG newbuildings due for delivery in Q1 2022, Q4 2022 and Q1-Q4 2023. For more information about Avance Gas, please visit www.avancegas.com (http://www.avancegas.com).
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.