Frontline 2012 divests eight new VLCC's
Joint Venture Avance Gas has made a deal with Frontline 2012 to take over the companyr's eight VLGC gas carriers, set for delivery in 2014. The deal cements the consolidation in the gas segment.
BY KATRINE GRØNVALD RAUN
The consolidation of the gas segment has now begun for real, cemented by the finalized agreement between Avance Gas and Frontline 2012, as the two companies have settled the final details regarding Avance's acquisition of Frontline's eight 83,000 cbm VLGC newbuildings, set for delivery from Jiangnan Changxing shipyard in China in August 2014, according to a press release from Avance Gas.
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