Avance Gas takes up option for gas carrier pair at CIMC Sinopacific

Avance Gas has exercised an option for two additional LPG/ammonia gas carriers from Nantong CIMC Sinopacific Offshore & Engineering.

The newbuildings will have a cargo capacity of 40,000 cu m, which are expected to be delivered in 2026 and will cost $61.5m each-the same as the two ships ordered by Avance Gas from Nantong CIMC Sinopacific Offshore & Engineering in June.

The new ships will be capable of running on both LPG and compliant fuel oil and will be equipped with shaft generators to improve operation and maintenance costs as well as environmental performance.

Avance Gas CEO Øystein Kalleklev said: “Given the high expected growth of the ammonia trade, the four new vessels are a very attractive addition to our fleet, where we already have two VLGCs on water, which are ammonia ready in terms of running it as fuel, while the two VLGCs for delivery next year can both carry and burn ammonia.”

Avance Gas owns and operates very large gas carriers with a fleet of fourteen ships including two dual fuel LPG newbuildings for delivery in late 2023 and 2024.