reports
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
ABGSC Shipping Daily 28 November
Mixed tanker and dry bulk markets, LPG down, Shipping peer group trades at P/NAV 0.71x, Tanker spot rates down, seasonality not working, risk of Red Sea reopening, Dry bulk fundamentals remain solid, while Chinese steel demand also remains a worry, FRO Q3 review: No seasonal upswing cuts estimates,
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Avance Gas Holding Ltd: Key information relating to the dividend for t...
Avance Gas Holding Ltd: Key information relating to the dividend for the third quarter 2024 Hamilton, Bermuda. November 27, 2024 Key information relating to the dividend to be paid by Avance Gas Holding Ltd. for the third quarter 2024: Dividend amount: $3.50Declared currency: USDLast day including right: December 9, 2024Ex-date: December 10, 2024Record date: December 11, 2024Payment date: December 23, 2024Date of Approval: November 26, 2024 For further queries, please contact: Randi Navdal Bekkelund, CFO Email: Tel: This information is subject to the disclosure requirements pursu...
Avance Gas Holding Ltd: Third Quarter 2024 Earnings Release
Avance Gas Holding Ltd: Third Quarter 2024 Earnings Release Hamilton, Bermuda. November 27, 2024 - Avance Gas Holding Ltd (OSE: AGAS) ("Avance Gas" or the "Company") today reports unaudited results for the third quarter 2024. HIGHLIGHTS The average Time Charter Equivalent (TCE) rate on a discharge-to-discharge basis was $38,700/day, compared to $50,100/day in the second quarter of 2024. For reference our guidance was 79% of days booked at $41,400/day.TCE/day on a load-to-discharge basis was $41,900/day, compared to $46,700/day in the second quarter of 2024. For the third quarter, we had...
Avance Gas Holding Ltd: Successfully completed the fourth VLGC deliver...
Avance Gas Holding Ltd: Successfully completed the fourth VLGC delivery to BW LPG Hamilton, Bermuda. November 22, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (“BW LPG” or “Buyer”) for $1,050 million. Today Avance Gas announces the fourth VLGC delivery, the 2015-built scrubber-fitted vessel, Passat. In connection with the delivery, 1.35 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive n...
Avance Gas Holding Ltd: Successfully completed the third VLGC delivery...
Avance Gas Holding Ltd: Successfully completed the third VLGC delivery to BW LPG Hamilton, Bermuda. November 21, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (“BW LPG” or “Buyer”) for $1,050 million. Today Avance Gas announces the third VLGC delivery, the 2015-built scrubber-fitted vessel, Sirocco. In connection with the delivery, 1.35 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive ne...
Avance Gas Holding Ltd: Successfully completed the second VLGC deliver...
Avance Gas Holding Ltd: Successfully completed the second VLGC delivery to BW LPG Hamilton, Bermuda. November 20, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refer to the announcement on August 15, 2024, to sell its VLGC fleet to BW LPG Ltd (“Buyer”) for $1,050 million. On November 1, 2024, the Company announced the first VLGC delivery, and today Avance Gas announce the second VLGC delivery, the 2022-built dual-fuel ship Avance Capella. Avance Capella was under a sale leaseback agreement, which has been successfully novated to the Buyer. As a part of the transactio...
Avance Gas Holding Ltd: Invitation to Earnings Presentation for the Th...
Avance Gas Holding Ltd: Invitation to Earnings Presentation for the Third Quarter of 2024 Bermuda, November 19, 2024, Avance Gas Holding Ltd. (ticker "AGAS") will on Wednesday November 27, 2024, release its unaudited results for the third quarter of 2024. In connection with the earnings release, an audio webcast and conference call will be held at 14:00 (CEST). The presentation and webcast link will be available from the Investor Relation section at Avance Gas' website prior the presentation and available by using the following links: Webcast: -server.com/mmc/p/j6q2r66p Conference call:...
Avance Gas Holding Ltd: Successfully completed the first VLGC delivery...
Avance Gas Holding Ltd: Successfully completed the first VLGC delivery to BW LPG Hamilton, Bermuda. November 1, 2024 Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refer to the announcement on August 15, 2024, to sell its VLGC fleet to BW LPG Ltd for $1,050 million. The sale of the Very Large Gas Carrier (“VLGC”) fleet was agreed to be settled with approximately $585 million of cash, novation of approximately $132 million of debt obligations under a sale leaseback agreement with the remainder being settled in 19.282 million shares in BW LPG where the parties agreed a f...
- Jørgen Lian
Avance Gas (Hold, TP: NOK109.00) - All about the distributions
We have updated our model and valuation for the most recent trends and arrive at a current NAV of NOK109/share based on the latest BW LPG share price, while highlighting potential NOK121/share based on our current NAV in BW LPG, and NOK123/share on our BW LPG target price. Hence, we reiterate our HOLD and have cut our target price to NOK109 (137) as we expect the stock to continue to reflect the current market value of its assets as shareholders await significant distributions of cash and potent...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Avance Gas Holding Ltd: Presentation at the Pareto Securities' Energy ...
Avance Gas Holding Ltd: Presentation at the Pareto Securities' Energy Conference The CEO of Avance Gas Holding Ltd., Øystein Kalleklev, will be presenting at the Pareto Securities' Energy Conference today. The presentation used is attached hereto and is available on our web page For further queries, please contact: Investor and Analyst Contact: Randi Navdal Bekkelund, Chief Financial OfficerTel: Email: Media Contact: Øystein Kalleklev, Chief Executive OfficerTel: ABOUT AVANCE GAS:Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). T...
Avance Gas Holding Ltd: Ex Dividend USD 1.35 today
Avance Gas Holding Ltd: Ex Dividend USD 1.35 today Hamilton, Bermuda, September 10, 2024 The shares in Avance Gas Holding Ltd (ticker: "AGAS") will be traded ex-dividend USD 1.35 as of today relating to the dividend for the second quarter of 2024. The dividend will be paid on September 18, 2024. For further information, please contact: Randi Navdal Bekkelund, CFOEmail: Tel: ABOUT AVANCE GASAvance Gas 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...
- Jørgen Lian
Avance Gas Minor model adjustments
We have updated our estimates, owing to the Q2 report. We calculate an NAV of NOK130/share based on today’s BW LPG share price (12.8% pro-forma ownership stake), and NOK137/share based on our NAV for BW LPG, which remains the basis for our valuation. Avance Gas is set to receive cash proceeds from the recent fleet sale in the coming months, allowing for substantial shareholder distributions. We do not consider these changes to be material, and we have not changed our HOLD recommendation. We have...
- ABGSC Shipping & Transport Research
- Oliver Dunvold
- Petter Haugen
Avance Gas Holding Ltd: Key information relating to the dividend for t...
Avance Gas Holding Ltd: Key information relating to the dividend for the second quarter 2024 Bermuda, August 28, 2024 Key information relating to the dividend to be paid by Avance Gas Holding Ltd. for the second quarter 2024: Dividend amount: $1.35 Declared currency: USD Last day including right: September 9, 2024 Ex-date: September 10, 2024 Record date: September 11, 2024 Payment date: September 18, 2024 Date of Approval: August 27, 2024 For further queries, please contact: ...
Avance Gas Holding Ltd: Second Quarter 2024 Earnings Release
Avance Gas Holding Ltd: Second Quarter 2024 Earnings Release BERMUDA, August 28, 2024 – Avance Gas Holding Ltd (OSE: AGAS) (“Avance Gas” or the “Company”) today reports unaudited results for the second quarter 2024. HIGHLIGHTS The average Time Charter Equivalent (TCE) rate on a discharge-to-discharge basis was $50,100/day, compared to $60,900/day in the first quarter of 2024. For reference our guidance was 83% of days booked at $48,000/day.TCE/day on a load-to-discharge basis was $46,700/day, compared to $78,800/day in the first quarter of 2024. The adjustment related to load-to-disc...
- Jørgen Lian
Avance Gas (Hold, TP: NOK138.00) - Significant cash balance ahead
Following the announced transaction where BW LPG acquired 12 VLGCs from Avance Gas, the company is now limited to four MGCs on order, BW LPG shares, cash, working capital and cash flow for the remaining trading days until delivery of the VLGCs. Thus, on our estimates, we calculate a current NAV/share of NOK130, while applying our current NAV/share for BW LPG of NOK193 as the basis for the valuation of the shareholding, resulting in our target price. We reinstate a recommendation with a HOLD and ...
- ABGSC Shipping & Transport Research
- Oliver Dunvold
- Petter Haugen
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