Avance Gas Delivers Another VLGC to BW LPG
Avance Gas Holding Ltd. has successfully completed the delivery of another Very Large Gas Carrier (VLGC) to BW LPG. This latest delivery strengthens the partnership between the two leading players in the liquefied petroleum gas (LPG) shipping industry. Another Very Large Gas Carrier (VLGC) has been successfully delivered, marking a significant milestone in a fleet sale agreement. The vessel was handed over to BW LPG Ltd from Avance Gas Holding ltd, representing the tenth ship transfer in the deal originally struck in August 2024. Avance Gas recently expanded its fleet with the addition of the “Breeze,” a modern LPG carrier equipped with a scrubber system. Built in 2015,the vessel’s arrival marks a significant milestone for the company. The acquisition of the “Breeze” brought several benefits to Avance Gas. Notably, they received 1.35 million shares in BW LPG, a leading player in the LPG shipping industry. In addition, the transaction resulted in approximately $21.5 million in net cash proceeds for Avance Gas after settling any outstanding debt related to the vessel. This strategic move strengthens Avance Gas’s position in the LPG market while also providing them with a substantial financial boost. Avance Gas has recently expanded its stake in BW LPG, solidifying its position in the liquefied petroleum gas (LPG) shipping industry. This strategic move increases Avance gas’s ownership to 10.14%, equivalent to 15.791 million shares. the company’s growth trajectory is further emphasized by the anticipated delivery of two new vessels before the year’s end. As these vessels join the fleet, Avance Gas is poised for increased capacity and operational efficiency. Avance Gas has committed to keeping stakeholders informed, promising to provide updates on the integration of these new vessels once the process is complete. This company provides dedicated contact facts for different types of inquiries. Those interested in media relations can connect with Øystein Kalleklev, the CEO, by phone at +47 23 11 40 00. For questions from investors and analysts, Randi Navdal Bekkelund,the CFO,is available at the same phone number: +47 23 11 40 00. This company provides dedicated contact information for different types of inquiries. Those interested in media relations can connect with Øystein Kalleklev, the CEO, by phone at +47 23 11 40 00.For questions from investors and analysts, randi Navdal Bekkelund, the CFO, is available at the same phone number: +47 23 11 40 00.## Avance Gas Expanding its Presence in the LPG Market
**Q:** **Øystein Kalleklev**, CEO of Avance Gas, can you provide an update on the engagement between Avance Gas and BW LPG?
**A:** we’re pleased to announce the successful delivery of another VLGC to BW LPG, marking the tenth vessel transfer under our strategic fleet sale agreement. This ongoing collaboration strengthens our presence in the LPG shipping market and allows for greater operational synergies.
**Q:** what are the financial implications of this ongoing fleet transfer for Avance Gas, **Ms.Bekkelund**?
**A:** **Randi Navdal Bekkelund**, CFO of Avance gas: Besides strengthening our partnership with BW LPG, this deal has yielded significant benefits for Avance Gas. We’ve received 1.35 million shares in BW LPG and generated approximately $21.5 million in net cash proceeds. This financial boost strengthens our position and supports
future growth initiatives.
**Q: ** Stepping back a bit, **Mr. Kalleklev**, this recent vessel delivery comes alongside the acquisition of the “Breeze” – how does this modern carrier fit into Avance Gas’s broader strategy?
**A:** The acquisition of the “Breeze” strategically expands our fleet and greatly enhances our operational capabilities. as a modern LPG carrier equipped with a scrubber system, it aligns perfectly with our commitment to environmentally responsible shipping practices.
**Q:** Looking ahead, **Ms. Bekkelund**, what other developments can investors expect from avance Gas?
**A:** In addition to our successful fleet transfers and acquisitions, we’ve recently increased our stake in BW LPG to over 10%. We are also eagerly anticipating the delivery of two new vessels before the end of the year. These new additions will further bolster our capacity and operational efficiency, enabling us to effectively meet the growing demands of the LPG market.
