Avance Gas orders pair of LPG/ammonia carriers

Source:Splash247.com
2023.06.07
1330

Avance Gas has entered into a newbuilding contract with CIMC in China for the construction of two mid-sized LPG/ammonia carriers with dual fuel engines that can run on LPG as fuel in addition to compliant fuel oil.

The ships will have a cargo capacity of 40,000 cum and scheduled delivery is during the fourth quarter 2025 and the first quarter of 2026. Contract price for the newbuildings is $61.5m per vessel. As part of the agreement, Avance Gas will have an option to order two further newbuildings at the same terms.

Øystein Kalleklev, CEO of Avance Gas, commented: “These ships are not only perfect for the LPG trade but also ammonia trade as parcel sizes for ammonia cargoes tend to be in this size lot. Given the high expected growth of the ammonia trade, this makes the ships a very attractive addition to our fleet where we already have two VLGCs ready for burning ammonia and two VLGCs for delivery next year which can both carry and burn ammonia.”

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