AVANCE GAS HOLDINGS LTD

Avance Gas Holding is principally engaged in the transportation of Liquefied Petroleum Gas ("LPG"). Co. operates a fleet of 14 Very Large Gas Carriers, providing transportation services to oil majors and traders of LPG on a global basis. Co. transports LPG from the Middle East and the U.S. Gulf or U.S.loan facility from BCBloan facility from BCB(excludes dividends satisfied by issue of shares) East Coast to destinations in Europe, South America and Asia.
  • TickerAVACF
  • ISINBMG067231032
  • ExchangePink OTC Markets
  • SectorIndustrial Transportation
  • CountryUnited States
 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of t...

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Statement From Avance Gas Holding Ltd in Connection With the Mandatory...

Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd enter into three Time Charter Agreements

Avance Gas Holding Ltd enter into three Time Charter Agreements Bermuda, 28 September 2021 – Avance Gas Holding Ltd (“AGAS” or the “Company”) is pleased to announce that we have entered into three Time Charter Agreements for a period of 2 years at an average hire level of approximately $30,000 per day net to owners for the 2008-built VLGC Iris Glory and Venus Glory and the 2009-built VLGC Promise. The vessels are delivered in September and October 2021. For further queries, please contact:Kristian Sørensen, CEO Tel: +47 22 00 48 10 Email: Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 29...

Jørgen Lian
  • Jørgen Lian
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas (Buy, TP: NOK54.00) - On to the next upcycle

We are optimistic about the likelihood of a potential upswing this winter, as summer seasonality was evasive. The high energy prices should lead to strong demand, and given OPEC volumes returning to the market and potential Panama congestion from steady US exports, we find several boxes are ticked. The LPG stocks remain heavily discounted in our view. We reiterate our BUY with a new target price of NOK54 (53).

Jørgen Lian
  • Jørgen Lian
LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD ... (+3)

LPG shipping (DNB Markets) - Volatile ride through 2021

The VLGC market continues its volatile ride through 2021, with freight rates recently surpassing break-even levels around USD22k/day after having been down at opex levels of USD10k/day in mid-July. We remain positive near-term, believing a continued growth of US production should allow exports to increase without jeopardising winter propane stocks. H1 saw more than 15% of the fleet ordered, with most of the newbuild vessels set for delivery in 2023. However, this coincides with increased regulation, likely a positive for the market balance. We reiterate our BUYs on Avance Gas, BW LPG, and Dori...

LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD
AVACF AVANCE GAS HOLD...
 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of t...

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Statement From Avance Gas Holding Ltd in Connection With the Mandatory...

Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd enter into three Time Charter Agreements

Avance Gas Holding Ltd enter into three Time Charter Agreements Bermuda, 28 September 2021 – Avance Gas Holding Ltd (“AGAS” or the “Company”) is pleased to announce that we have entered into three Time Charter Agreements for a period of 2 years at an average hire level of approximately $30,000 per day net to owners for the 2008-built VLGC Iris Glory and Venus Glory and the 2009-built VLGC Promise. The vessels are delivered in September and October 2021. For further queries, please contact:Kristian Sørensen, CEO Tel: +47 22 00 48 10 Email: Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 29...

Jørgen Lian
  • Jørgen Lian
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas (Buy, TP: NOK54.00) - On to the next upcycle

We are optimistic about the likelihood of a potential upswing this winter, as summer seasonality was evasive. The high energy prices should lead to strong demand, and given OPEC volumes returning to the market and potential Panama congestion from steady US exports, we find several boxes are ticked. The LPG stocks remain heavily discounted in our view. We reiterate our BUY with a new target price of NOK54 (53).

Jørgen Lian
  • Jørgen Lian
LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD ... (+3)

LPG shipping (DNB Markets) - Volatile ride through 2021

The VLGC market continues its volatile ride through 2021, with freight rates recently surpassing break-even levels around USD22k/day after having been down at opex levels of USD10k/day in mid-July. We remain positive near-term, believing a continued growth of US production should allow exports to increase without jeopardising winter propane stocks. H1 saw more than 15% of the fleet ordered, with most of the newbuild vessels set for delivery in 2023. However, this coincides with increased regulation, likely a positive for the market balance. We reiterate our BUYs on Avance Gas, BW LPG, and Dori...

LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD
AVACF AVANCE GAS HOLD...
 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of t...

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Statement From Avance Gas Holding Ltd in Connection With the Mandatory...

Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd enter into three Time Charter Agreements

Avance Gas Holding Ltd enter into three Time Charter Agreements Bermuda, 28 September 2021 – Avance Gas Holding Ltd (“AGAS” or the “Company”) is pleased to announce that we have entered into three Time Charter Agreements for a period of 2 years at an average hire level of approximately $30,000 per day net to owners for the 2008-built VLGC Iris Glory and Venus Glory and the 2009-built VLGC Promise. The vessels are delivered in September and October 2021. For further queries, please contact:Kristian Sørensen, CEO Tel: +47 22 00 48 10 Email: Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 29...

Jørgen Lian
  • Jørgen Lian
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas (Buy, TP: NOK54.00) - On to the next upcycle

We are optimistic about the likelihood of a potential upswing this winter, as summer seasonality was evasive. The high energy prices should lead to strong demand, and given OPEC volumes returning to the market and potential Panama congestion from steady US exports, we find several boxes are ticked. The LPG stocks remain heavily discounted in our view. We reiterate our BUY with a new target price of NOK54 (53).

Jørgen Lian
  • Jørgen Lian
LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD ... (+3)

LPG shipping (DNB Markets) - Volatile ride through 2021

The VLGC market continues its volatile ride through 2021, with freight rates recently surpassing break-even levels around USD22k/day after having been down at opex levels of USD10k/day in mid-July. We remain positive near-term, believing a continued growth of US production should allow exports to increase without jeopardising winter propane stocks. H1 saw more than 15% of the fleet ordered, with most of the newbuild vessels set for delivery in 2023. However, this coincides with increased regulation, likely a positive for the market balance. We reiterate our BUYs on Avance Gas, BW LPG, and Dori...

LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD
AVACF AVANCE GAS HOLD...
 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of t...

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Statement From Avance Gas Holding Ltd in Connection With the Mandatory...

Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd enter into three Time Charter Agreements

Avance Gas Holding Ltd enter into three Time Charter Agreements Bermuda, 28 September 2021 – Avance Gas Holding Ltd (“AGAS” or the “Company”) is pleased to announce that we have entered into three Time Charter Agreements for a period of 2 years at an average hire level of approximately $30,000 per day net to owners for the 2008-built VLGC Iris Glory and Venus Glory and the 2009-built VLGC Promise. The vessels are delivered in September and October 2021. For further queries, please contact:Kristian Sørensen, CEO Tel: +47 22 00 48 10 Email: Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 29...

Jørgen Lian
  • Jørgen Lian
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas (Buy, TP: NOK54.00) - On to the next upcycle

We are optimistic about the likelihood of a potential upswing this winter, as summer seasonality was evasive. The high energy prices should lead to strong demand, and given OPEC volumes returning to the market and potential Panama congestion from steady US exports, we find several boxes are ticked. The LPG stocks remain heavily discounted in our view. We reiterate our BUY with a new target price of NOK54 (53).

Jørgen Lian
  • Jørgen Lian
LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD ... (+3)

LPG shipping (DNB Markets) - Volatile ride through 2021

The VLGC market continues its volatile ride through 2021, with freight rates recently surpassing break-even levels around USD22k/day after having been down at opex levels of USD10k/day in mid-July. We remain positive near-term, believing a continued growth of US production should allow exports to increase without jeopardising winter propane stocks. H1 saw more than 15% of the fleet ordered, with most of the newbuild vessels set for delivery in 2023. However, this coincides with increased regulation, likely a positive for the market balance. We reiterate our BUYs on Avance Gas, BW LPG, and Dori...

LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD
AVACF AVANCE GAS HOLD...
 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of t...

Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Statement From Avance Gas Holding Ltd in Connection With the Mandatory...

Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...

 PRESS RELEASE
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas Holding Ltd enter into three Time Charter Agreements

Avance Gas Holding Ltd enter into three Time Charter Agreements Bermuda, 28 September 2021 – Avance Gas Holding Ltd (“AGAS” or the “Company”) is pleased to announce that we have entered into three Time Charter Agreements for a period of 2 years at an average hire level of approximately $30,000 per day net to owners for the 2008-built VLGC Iris Glory and Venus Glory and the 2009-built VLGC Promise. The vessels are delivered in September and October 2021. For further queries, please contact:Kristian Sørensen, CEO Tel: +47 22 00 48 10 Email: Randi Navdal Bekkelund, CFO Tel: +47 22 00 48 29...

Jørgen Lian
  • Jørgen Lian
AVACF AVANCE GAS HOLD... (Industrial Goods & Services)

Avance Gas (Buy, TP: NOK54.00) - On to the next upcycle

We are optimistic about the likelihood of a potential upswing this winter, as summer seasonality was evasive. The high energy prices should lead to strong demand, and given OPEC volumes returning to the market and potential Panama congestion from steady US exports, we find several boxes are ticked. The LPG stocks remain heavily discounted in our view. We reiterate our BUY with a new target price of NOK54 (53).

Jørgen Lian
  • Jørgen Lian
LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD ... (+3)

LPG shipping (DNB Markets) - Volatile ride through 2021

The VLGC market continues its volatile ride through 2021, with freight rates recently surpassing break-even levels around USD22k/day after having been down at opex levels of USD10k/day in mid-July. We remain positive near-term, believing a continued growth of US production should allow exports to increase without jeopardising winter propane stocks. H1 saw more than 15% of the fleet ordered, with most of the newbuild vessels set for delivery in 2023. However, this coincides with increased regulation, likely a positive for the market balance. We reiterate our BUYs on Avance Gas, BW LPG, and Dori...

LPG DORIAN LPG (Industrial Goods & Services)
BWLPG BW LPG LTD
AVACF AVANCE GAS HOLD...

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