Avance Gas made USD 9.6 million in 2nd quarter

Rates for major gas vessels of more than USD 100,000 per day this spring are reflected in the new interim report from Avance Gas.

Photo: Avance Gas

High profile Norwegian gas carrier Avance Gas - whose ownership includes John Fredriksen's Frontline 2012 and Stolt-Nielsen - finished the 2nd quarter 2014 with a net profit of USD 9.6 million, compared to the USD 6.1 million in the three previous months.

The average TCE profit of the fleet - which includes six Very Large Gas Carriers, VLGC's, in operation along with a newbuilding program for a total of eight vessels - came to approximately USD 45,000 per day in the 2nd quarter, compared to USD 34,999 in the previous quarter.

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