Avance Gas lands new deficit despite doubling of rates

The rates have close to doubled for Avance Gas in the third quarter, where few new vessels on the water and increasing US exports of natural gas were favorable. However, the bottom line remains in the red for the carrier.

Photo: Avance Gas

The rates in the gas market have close to doubled for the Oslo-listed carrier Avance Gas, which continues to battle with a deficit.

In comparison with the second quarter, the average TCE rates increased by USD 7.578 per day to a USD 15,289 daily rate in the third quarter, according to the report published Thursday.

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