Avance Gas: Sale of 2008-built VLGC Thetis Glory


Avance Gas Holding Ltd have entered a contract to sell the 2008-built VLGC Thetis Glory with delivery in February after her current voyage.

Following debt repayment, the sale will generate approximately USD 22.5 million in net cash proceeds and a book profit of approximately USD 6 mill.

The sale follows the company’s fleet renewal strategy, reducing average age and emissions while improving the fuel efficiency of the overall fleet as we are about to take delivery of our second dual-fuel newbuilding from DSME in February.