Frontline 2012 and Stolt-Nielsen in massive gas collaboration

Frontline 2012 has contracted more new ships than most. Now some of the gas ships could become part of a new joint venture with Stolt-Nielsen, among others.

The company Avance Gas Holding Ltd. (AGHL), which transports natural gasses, has taken on a new player. The joint venture currently consists of two owners, Norwegian Stolt-Nielsen Gas and Sungas Holdings, but in the future, fast-moving Frontline 2012 will also be part of the venture in the capacity of shareholder, say the companies in a brief to the stock exchange.

When the Frontline 2012 transaction is complete, the three companies will have equal control of the venture, and going forward, there will be discussions concerning whether eight new VLGCs will be part of the new joint venture. The ships will be delivered to Frontline 2012 from the Jiangnan Changxing shipyard in China in 2014 and 2015.

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