ShippingWatch

"We have made a very good offer for Aurora"

Avance Gas CEO Christian Andersen hopes that the acquisition offer made on Aurora LPG will mark the beginning of a much needed consolidation wave among VLGC carriers, he tells ShippingWatch.

Photo: Avance Gas

For years Avance Gas has made itself available for - and not least pursued - consolidation among carriers operating fleets with the biggest gas vessels, and now is the right time, CEO Christian Andersen explains to ShippingWatch after the carrier on Monday announced an acquisition bid for competitor Aurora LPG.

"Aurora is more interesting now than before, as they are approaching the delivery date of the carrier's new ships. They have a newbuilding fleet of six vessels set for delivery during the next eight or nine months. Plus we've had all our ships delivered now. We have 14 vessels making money every day, and we feel that we can offer Aurora LPG's shareholders to join a bigger fleet with higher earnings per share in the strong freight markets," he says.

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