Avance Gas Holding News

Avance Gas Holding, a company engaged in the transportation of liquefied petroleum gas (LPG), has entered into shipbuilding contracts for two 91,000 cbm,  LPG dual-fuel very large gas carriers (VLGCs) with South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME).The Norwegean LPG shipping firm said that the vessels are are scheduled for delivery in Q4 2021 and Q1 2022.The transaction enhances the green profile of the Avance Gas fleet while increasing its competitiveness. The state of the art dual-fuel propulsion system will significantly lower fuel consumption, reduce fuel costs and reduce emissions compared to any VLGC on water.The outlook for the freight market is healthy, supported by continued strong US LPG exports and growing Asian demand.

Avance Gas Holding, a Bermuda-based company engaged in the transportation of liquefied petroleum gas, announced the appointment of Ulrik Andersen as Chief Executive Officer of Avance Gas AS, the management company of the Avance Gas group.Ulrik Andersen is appointed as Chief Executive Officer effective August 2019, a press note said.Ulrik has extensive experience from VLGC ship owning, most recently as Commercial Head of Shipping for Petredec. Prior to working with Petredec, Ulrik served as Managing Director for Neu Gas Shipping, before that, as Head of the VLGC Pool at Maersk Tankers.On being appointed, Ulrik stated: "I am thrilled to have been offered the opportunity to lead Avance Gas.

Avance Gas Holding, a Bermuda-based company engaged in the transportation of liquefied petroleum gas, said that announces Christian Andersen will step down as President.Peder Simonsen (CFO) will serve as interim CEO until a permanent successor is appointed."The Board would like to thank Andersen for his significant contribution to the Company since inception," said a press note.Christian Andersen (born 1960) founded Avance Gas in September 2007 together with Stolt-Nielsen, and was hired as President. Mr. Andersen holds a masters degree in business and marketing from Oslo Business School.He has 25 years' experience from the industry.

Shipping firm Avance Gas Holding , which transports liquefied petroleum gas (LPG), expects freight rates for its vessels to remain weak in 2017 despite an improvement in the last two weeks, the Oslo-listed firm said. A sharp influx of newly built very large gas carriers (VLGCs) pushed global spot vessel rates from above $100,000 per day two years ago to around $10,000 recently, although rates have since risen to about $11,000. "There is more export of LPG from the United States…

Stolt-Nielsen Limited today reported unaudited results for the first quarter ended February 28, 2014, which included lower cargo volumes and down profits in most markets. Net profit attributable to shareholders in the first quarter was $18.6 million, with revenue of $516.7 million, compared with $36.7 million, with revenue of $524.5 million, respectively, in the fourth quarter of 2013, the company said. Commenting on the company's results, Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited…

Gas tanker operator Avance Gas Holding is planning an initial public offering (IPO) and aims to list its shares on the Oslo Bourse in April, one of its owners said on Wednesday, joining a flurry of Nordic firms planning stock market debuts. "As part of the IPO, Avance Gas will raise new capital to pursue consolidation opportunities, and in addition, the three major shareholders are considering selling shares in order to facilitate sufficient share liquidity," Stolt-Nielsen Limited said. Avance Gas was formed by a merger of shipping assets from Stolt-Nielsen, Frontline 2012 and Sungas Holdings, and the fleet consists of six very large gas carriers (VLGC), with eight further new-buildings on order.

Stolt-Nielsen Limited has reported unaudited results for the fourth quarter ended November 30, 2013. Net profit attributable to SNL shareholders in the fourth quarter was $36.7 million, with revenue of $524.5 million, compared with $21.8 million, with revenue of $521.8 million, respectively, in the third quarter of 2013. Net profit attributable to shareholders for 2013 was $85.8 million, with revenue of $2,099.5 million, compared with $70.2 million, with revenue of $2,071.7 million, respectively, in 2012.

Stolt-Nielsen Limited says it will pay an interim dividend of $0.50 per Common Share on December 11, 2013 to shareholders of record as of November 26, 2013. In accordance with normal settlement practice, the shares will trade ex-dividend on and after November 22, 2013 (2 business days prior to the November 26, 2013 record date). Stolt-Nielsen Limited is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions…

Stolt-Nielsen Limited  reported unaudited results for the third quarter ended August 31, 2013. Net profit attributable to shareholders in the third quarter was $21.8 million, with revenue of $521.8 million, compared with $25.7 million, with revenue of $533.8 million, respectively, in the second quarter of 2013. Net profit attributable to shareholders for the first nine months was $49.1 million, with revenue of $1,575.0 million, compared with $52.0 million, with revenue of $1,560.8 million, respectively, in the first nine months of 2012. Stolt Tankers reported an operating profit of $9 million, up from $5 million, as market conditions continued to slowly improve. The Stolt Tankers Joint Service Sailed-in Time-Charter Index increased to 1.28 from 1.2.

Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013. Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million, with revenue of $510.9 million, respectively, in the fourth quarter of 2012. The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] was 1.12, down from 1.14. Stolthaven Terminals reported an operating profit of $23.3 million, up from $22.9 million, as overall market conditions remained strong.

Net profit attributable to shareholders in the second quarter was $37.0 million, with revenue of $538.8 million, compared with $8.0 million and $505.7 million, respectively, in the first quarter of 2012. Net profit attributable to shareholders for the first six months was $45.0 million, with revenue of $1,044.4 million, compared with $63.6 million and $986.6 million, respectively, in the first half of 2011. •    Stolt Tankers reported an operating profit of $29.0 million, reflecting a net gain of $24.5 million on insurance proceeds related to the loss of MT Stolt Valor following the incident in the Persian Gulf in March. Net of this gain the operating profit was $4.5 million for the current quarter, compared with an operating loss of $8.6 million.

Avance Gas Holding Ltd. adds Transpetrol Gas Holdings Ltd. Stolt-Nielsen Limited announce that Avance Gas Holding Ltd. (AGHL), a joint venture between Sungas Holdings Ltd. and 
Stolt-Nielsen Gas Ltd. has reached an agreement with Transpetrol Shipping Ltd. (Transpetrol) whereby Transpetrol will sell its two very large gas carriers (VLGC) to AGHL in return for cash and 33 1/3 equity ownership of AGHL. It is expected that the two new ships, Prospect and Progress, both delivered in 2009, will join the AGHL fleet in early July. With Prospect and the Progress, the Avance Gas fleet will consist of nine VLGCs, including the two ships to be acquired from Maran Gas Maritime Inc. The Avance Gas fleet trades mainly in the spot market, loading in the Middle East for destinations primarily in Asia.

Stolt-Nielsen Limited Reports Unaudited Results For the Fourth Quarter and Full Year of 2011. Stolt-Nielsen Limited has reported unaudited results for the fourth quarter and full year ended November 30, 2011. Net profit attributable to shareholders in the fourth quarter was $22.2 million, with revenue of $512.9 million, compared with $22.4 million and $529.8 million, respectively, in the third quarter of 2011. Net profit attributable to shareholders for the full year was $108.2 million, with revenue of $2,029.4 million, compared with $106.1 million and $1,793.7 million, respectively, in 2010. • Stolt Tankers reported an operating profit of $7.0 million, up from $6.6 million. • The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] was unchanged at 1.08.

Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the third quarter ended August 31, 2011. Net profit attributable to shareholders in the third quarter was $22.4 million, with revenue of $529.8 million, compared with $32.4 million and $528.0 million, respectively, in the second quarter of 2011. • Stolt Tankers reported operating income of $6.6 million, compared with an operating loss of $3.5 million, reflecting an improvement in spot freight rates compensating for higher bunker costs. Second-quarter operating income reflected an impairment loss of $8.5 million taken on assets held for sale. • The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] rose to 1.08 from 1.05.

LONDON, April 7, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the first quarter ended February 28, 2011. Net profit attributable to shareholders in the first quarter was $31.2 million, with revenue of $458.7 million, compared with $33.0 million and $459.4 million, respectively, in the fourth quarter of 2010. *    Stolt Tankers reported an operating loss of $1.0 million, compared with an operating profit of $11.0 million. First-quarter results reflected the impact of higher bunker fuel prices, weather-related delays and port congestion.