Gas carrier Avance Gas, whose owners include big names such as John Frederiksen's Frontline 2013, Sungas Holdings and Stolt-Nielsen, had a strong 2014, driven in particular by an attractive spot market for LPG in the second half of the year.
Avance Gas presents a net result of USD 81.7 million for the 13 months, ending December 31st, 2014. A significant improvement from the equivalent period, ending November 30th, 2013, says the carrier in the annual report Thursday.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.