Avance CEO: The LPG crisis defies common sense

The fact that rates are sliding even though the vessels have plenty to do on the global LPG market go against every shipping theory out there, says Christian Andersen, CEO of Avance Gas. The company is ready to partake in consolidation, but the question is whether BW LPG will get there first?

Avance Gas fik et underskud på 9,6 mio. dollars i andet kvartal af 2016 trods en flådeudnyttelse på 91 pct. | Photo: Avance Gas

BY NIKLAS KRIGSLUND

What do you do when rates fall even though vessels are full of cargo?

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Asset value impairments send BW LPG into the red
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LPG crisis hurt Avance Gas in the second quarter
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LPG vessels had a short boom and a quick bust
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