Stolt-Nielsen and Sungas divesting shares in gas giant

Stolt-Nielsen and Sungas are now putting upwards of five million shares, corresponding to a 14.2 percent stake, up for sale in the gas venture Avance Gas, says the company in a corporate statement.

BY KATRINE GRØNVALD RAUN

Stolt-Nielsen Gas, a subsidiary of Norwegian shipping group Stolt-Nielsen, along with another partner, Sungas Holdings, plans to divest part of the carriers' stakes in gas collaboration Avance Gas, according to a statement issued to the Oslo Stock Exchange, which informs that the two parties "are exploring the opportunity to sell up to 5.0 million common shares" in Avance Gas. The two companies own Avance Gas together with Frontline 2012.

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Stolt-Nielsen and Sungas divesting shares in gas giant

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

Packed container ships trigger surge in air freight demand

14 arrested at demonstration in front of Maersk headquarters

Spot prices for container freight continue to rise

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

14 arrested at demonstration in front of Maersk headquarters

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Jobs