Avance Gas delivers Q2 Net Income of $61m driving our H1 Net income to $207m - our highest ever first half results (actually higher than any full year results also). We also announced on August 15, the sale of our VLGC fleet to BW LPG which will add $315m in profits thus bringing the pro forma net income for H1-24 adjusted for the sale subsequent to quarter sale to $522m, but as explained we will have the right to trade the ships until end of the year and expect to generate positive resulys from this as Q3 is 79% booked at $41,000 while Q4 FFAs is currently at $55,000. We therefore declare a dividend for Q2 of $1.35 per share or $103m bringing the dividend for H1-24 to $3.50 per share or $268m. Please join our live presentation at 14:00 CEST / 08:00 am EST for further details: https://edge.media- server.com/mmc/p/tgju86bc #shipping #energy #lpg #gas #naturalgas #oil #finance #investing
Avance Gas
Olje og gass
Avance Gas is one of the leading international VLGC shipowners transporting clean energy
Om oss
Avance Gas Holding Ltd operates in the global market for transportation of liquefied petroleum gas (LPG). The company is one of the world's leading owners and operators of very large gas carriers (VLGCs), operating a fleet of fourteen modern ships and two Dual Fuel LPG newbuildings due for delivery in Q4 21 and Q122. Avance Gas is listed on the Oslo Stock Exchange.
- Nettsted
-
http://www.avancegas.com
Ekstern lenke til Avance Gas
- Bransje
- Olje og gass
- Bedriftsstørrelse
- 2–10 ansatte
- Hovedkontor
- Oslo
- Type
- Åpent aksjeselskap
- Grunnlagt
- 2007
Beliggenheter
-
Primær
Få veibeskrivelse
Bryggegata 3
Oslo, 0250, NO
Ansatte i Avance Gas
Oppdateringer
-
If you missed out on the Marine Money Week in NYC last week, you now have the chance to view a replay of the LPG shipping panel where Avance Gas CFO Randi Navdal Bekkelund discussed the recent development and outlook for the LPG shipping market with other industry leaders. #lpg #shipping #maritime #energy #investing #finance #gas #naturalgas https://lnkd.in/dAztsrhp
From Strength to Strength or Will the Orderbook Spoil the Party ?
https://www.youtube.com/
-
Avance Gas presents at the Seatankers Group Lunch Monday June 24 in NYC, hosted by DNB Markets. Together with representatives from Frontline Management AS, Golden Ocean Group, SFL Corporation Ltd. and FLEX LNG we will give you an update on various shipping markets. Reach out to your DNB Markets representative or contact IR at the presenting companies to attend the lunch. #LNG #shipping #naturalgas #maritime #finance #stocks #investing #dividends #energy
-
-
Get to know our young and dynamic CFO Randi Navdal Bekkelund a bit better in this post by YoungShip Oslo! #shipping #lpg #maritime
Happy Friday! Meet Randi Navdal Bekkelund ⚓ -What do you do for a living? I am the CFO of Avance Gas, a VLGC shipowner specializing in transporting LPG from the US and Middle East to Asia. We own and operate 16 vessels, including four vessels currently under construction, for which I am responsible for financing. Avance Gas primarily operates in the spot freight market, which is both volatile and engaging to work with. -What is the proudest moment in your career? There have been many proud moments in my career, but two milestones stand out. First, I was offered a position at EY in the Shipping and Offshore department a year before completing my master’s degree. After working at EY for 8yrs, I joined Avance Gas and was promoted to CFO in less than 2yrs, much sooner than I had anticipated. Since then, I have been grateful to be part of the great Avance Gas team, which has experienced a remarkable journey over the past three to four years. -What is the “worst” investment you have made in your career? I rarely label anything as the "worst" if I've learned from the experience and it hasn't had significant consequences for anyone else but me. On a personal note, I bought shares in a tanker company, anticipating a super cycle that seems to have eventually occurred. However, there was one issue—the company I invested in no longer had any tanker vessels in its fleet. -What motivates you? Achieving goals through hard work, especially when done with a team, is fulfilling. Despite being less financially driven on a personal level, which some may perceive as naive, I like it. I'd rather maintain optimism than succumb to cynicism and scepticism, as they only drain time and energy. Working in an environment filled with highly skilled individuals who also prioritise respect for others is incredibly motivating. -What is the best advice you have received? Cliché but true: “embrace challenges that push you beyond your comfort zone”. While theory provides a foundation, it's through hands-on work that you truly gain knowledge and expertise. It's truly captivating to witness not only your own capabilities but also those of others surpassing initial expectations. -What do you do when you have a big decision to make? Examine the case thoroughly and evaluate various alternatives. To ensure confidence in significant decisions, I explore alternate options, engage in cross-divisional discussions with the team, and evaluate our priority requirements and risk tolerance. Prior to reaching a conclusion, I prefer to go for a long run to clear my mind, and occasionally, I even resolve potential issues while running. The running part is simpler in theory than in practice, especially when you have young children waiting at home. -A fun fact about yourself? Despite my height of 160cm, I once clinched victory in a sumo wrestling tournament, mostly just for the fun of it. As a seasoned handball player, I went all in.
-
-
On May 23, the Marine Money Norway Ship & Offshore Finance Forum is kicking off in Oslo. Avance Gas joins the panel “Navigating In a Strong Market” where our CFO, Randi Navdal Bekkelund, will discuss this theme with other industry leaders within the LPG and dry-bulk space among them our former CFO Peder Simonsen who is now the CFO of our sister company Golden Ocean Group. #shipping #maritime #finance #lpg #gas #naturalgas #propane #oilgas #investing
-
-
Avance Gas is getting ready for entry to the growing market for Medium-sized Gas Carriers (MGCs) with steel cutting ceremony for the first of four sister ships contracted last year at Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. The ships have cargo capacity of 40,000 cbm and equipped with dual fuel engine capable of burning both compliant bunkers fuel and LPG. Furthermore, they will also have shaft generators and the ships will both be able to carry full cargoes of LPG as well as ammonia. Delivery of the ships will occur in the period Q4-2025 to Q4-2026. #lpg #ammonia #shipping #maritime #oil #gas #naturalgas #ngl #energytransition #yard
-
-
Avance Gas out with record breaking Q1 numbers today where we are delivering quarterly net profit of $146m and paying out quarterly dividend of $165m or $2.15 dividend per share. Find out more in our attached slide deck and don’t forget our live webcast at 14:00 CEST / 08:00 am EST today! #shipping #maritime #lpg #gas #naturalgas #energy #oilgas #investing
-
Avance Gas published its 2023 Annual Report as well as its 2023 ESG report on April 5. In 2023, Avance Gas reported net income of $163.6m or approx ~30% return on equity while we declared dividends of ~$165m. The reports are available here: https://lnkd.in/dwMsviWt #gas #shipping #maritime #naturalgas #lpg #propane #energy #finance #business
-
-
Avance Gas attends the DNB Energy & Shipping Conference today, giving an overview of the recent transactions and events. To summarise shortly, since the Q4 presentation in February we have completed the two 2008-built vessel sales lowering the average age of the fleet to 4.7 years, the dual fuel Avance Polaris (2022) is put a one-year variable Time Charter and we have paid the Q4 dividend of $0.65 per share giving an annualized dividend yield of ~24%. For more details please find the presentation enclosed. #Avance Gas #lpg #energysector #dnb #marketinsights
-
Avance Gas announce the successful delivery of the 2008-built VLGC Venus Glory to new owners at a cash consideration of $66 million less ordinary broker commission of one percent as previously announced in a press release dated 3 January 2024. The vessel completed her two-year Time Charter with IOC at end of December 2023. Subsequent to completion of this Time Charter, Venus Glory also carried out a single spot voyage at a net Time Charter Equivalent (TCE) result of $5.5 million prior to delivery of the vessel to the new owners which is reflected in the announced booking level for Q1-2024. The Company expect to record a book gain on sale and a cash release following repayment of bank financing of $27 million and $40 million respectively. Additionally, and as previously announced, during the quarter the Company delivered the 2008-built VLGC Iris Glory to new buyers with a book gain on sale and cash release of $21 million and $26 million respectively. Lastly, we expect to close and deliver the VLGC newbuilding #5, intended name Avance Castor, by mid-March with a book gain and cash release of $36 million and $60 million respectively. Finally, the sale of the last VLGC newbuilding #6, intended name Avance Pollux, is scheduled for May 2024 with expected book gain and cash release of $36 million and $60 million respectively. Hence, in total, book gain and cash release from sale of ships during first half of 2024 is expected to be in aggregate $120 million and $186 million respectively. #shipping #maritime #finance #energy #lpg #gas #naturalgas #energy #ngl #propane #business
-