John Fredriksen’s Avance Gas is likely to improve profit further this year as VLGC rates continue to rise.
The Oslo-listed company said its average time charter equivalent (TCE) rate on a load-to-discharge basis was $58,379 per day in the first quarter, up from $46,478 in the fourth quarter of 2022.
This was slightly ahead of its own guidance of $58,000 per day.
