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Higher rates make Avance Gas' earnings soar

Higher rates pushed Avance Gas' earnings up in the fourth quarter. According to the shipping company, the IMO's sulfur cap has helped ensure that the strong freight market continues into 2020.

Photo: PR/Avance Gas

Stronger gas rates in the final quarter of 2019 gave a considerable boost to Avance Gas' earnings, shows the company's interim report for the fourth quarter.

Avance Gas' TCE earnings came to USD 65 million in the fourth quarter, up from USD 54.3 million.

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