Avance Gas books new deficit after rate slide

Gas carrier Avance Gas books yet another deficit in the first quarter, when rates dipped until March. The company has also appointed a new CEO and ordered scrubbers.

Photo: Avance Gas

Avance Gas recorded yet another first quarter deficit, as its fleet's day rates were in steady decline.

The gas carrier booked a combined net loss of USD 15.2 million in the quarter against a deficit of 2.8 million from the preceding quarter, shows the Bermuda-based company's unaudited interim report.

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