New time charter for Avance Gas

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Avance Gas has entered into a two-year time charter agreement for its second dual fuel very large gas carrier, Avance Capella.

The agreement is with liquefied petroleum gas and ethylene ship owner and LPG trader, Petredec.

Avance said the vessel will commence the time charter shortly after delivery ex-yard in South Korea end of February and the time charter hire has a mechanism which gives both parties exposure to the spot market rate.