ShippingWatch

Avance Gas almost doubled its bottom line

Norwegian supertanker player Avance Gas managed to almost double its bottom line in the second quarter this year. The carrier points to strong developments in the near future.

Photo: Avance Gas

CEO Christian Andersen of Avance Gas explained in an interview with ShippingWatch in early July this year that the carrier entering a period of "super profits."

This development is confirmed by the second quarter interim report from Avance Gas - competitor to carriers such as BW LPG and Dorian LPG - published on Thursday. The carrier's revenue increased to USD 68.5 million in the second quarter this year, up from USD 48.2 million in the first quarter of the year, while earnings grew to USD 41.3 million in the second quarter from USD 23.8 million in the first quarter 2015.

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