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Avance Gas has delivered the first very large gas carrier (VLGC) to BW LPG, marking the start of deliveries of total 12 vessels as part of $1.05 billion agreement signed earlier in 2024.

Avance Gas Holding Ltd. has announced the delivery of its third VLGC vessel, Sirocco, to BW LPG, receiving 1.35 million shares as part of the transaction, and net cash proceeds of $20 million.

Fleet Capacity Year-to-date, 20 new VLGC vessels have been delivered, and there are plans for the delivery of 2 more throughout the remaining months of 2024, and 13 VLGCs for delivery in 2025.

Avance Gas Holding has delivered its fourth VLGC vessel, Passat, to BW LPG, receiving 1.35 million shares in BW LPG, equating to a 4.2% ownership stake. The company expects to collect $21 million ...