Avance Gas Sells VLGC Fleet to BW LPG

Avance Gas Holding (AVACF) has released an update.

Avance Gas Holding Ltd. has successfully sold and delivered its first Very Large Gas Carrier (VLGC) to BW LPG Ltd., as part of a significant $1,050 million fleet sale. This transaction makes Avance Gas the second largest shareholder in BW LPG with an expected 12.8% ownership once all shares are received. The sale is anticipated to positively impact earnings due to depreciation savings, and remaining vessel deliveries are scheduled by year-end.

For further insights into AVACF stock, check out TipRanks’ Stock Analysis page.