John Fredriksen’s Avance Gas grows cash pile as it sells third VLGC this year

John Fredriksen’s Avance Gas is banking a healthy profit from selling older VLGC.

The Oslo-listed owner said the disposal of the 84,000-cbm Promise (built 2009) should generate $20m in net cash proceeds and a book gain of $7.5m.

VesselsValue estimates the gas carrier is worth $52m. Fearnley Securities has the ship at $47.5m and believes a sale was concluded in the high $40-millions, adjusting for the charter attached.