Avance Gas Enters into Time Charter Agreement for Avance Capella

Source: www.gulfoilandgas.com 1/21/2022, Location: South America

Avance Gas Holding Ltd ("AGAS" or the "Company") announce that we have entered into a Time Charter Agreement for a period of 2 years for our second dual fuel VLGC, Avance Capella, to LPG & Ethylene Shipowner and LPG trader, Petredec. The vessel will commence the time charter shortly after delivery ex-yard in South Korea end of February 2022 and the time charter hire has a mechanism which gives both parties exposure to the spot market rate.

This transaction is another step in executing on our strategy to increase our time charter portfolio while also maintaining access to the market upside.


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