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.

BY OLE ANDERSEN

Published: 25.06.14 at 10:40

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

Access all locked articles
Receive our daily newsletters
Access our app

Start a free company trial today

CBS launches board program for the shipping industry

Andreas Sohmen-Pao, chair, BW Group. | Foto: Global Maritime Forum

Supported by a number of high-profile names from the global shipping industry, CBS’s new Blue Board Leadership Programme’s first module is already half full. The faculty team includes BW Group Chairman Andreas Sohmen-Pao.

G&O Maritime Group buys maritime supplier

Morten Pilnov is CEO of G&O Maritime Group. | Foto: G&O MARITIME GROUP

G&O’s acquisition is aimed at strengthening the company’s green profile and making a stronger mark internationally.

EU countries ready for CO2 quota negotiations – but without a shipping fund

After marathon negotiations, EU member countries passed a mandate late Tuesday for inclusion of shipping into the union’s emissions trading system. A proposed special fund for the industry’s transformation does, however, not appear to be on the table.