Avance Gas Holding Ltd
OTC:AVACF
Avance Gas Holding Ltd
Avance Gas Holding Ltd. engages in the operation and transportation of liquefied petroleum gas. The firm is an owner and operator of very large gas carriers (VLGCs). Avance Gas provides LPG transportation services to destinations in Europe, South America, India and Asia, mainly loading the Middle East Gulf and the United States Gulf/United States East Coast. The company provides customers with transportation services through a combination of contract and spot market voyages. The firm's fleet consists of approximately 13 VLGCs and four dual fuel new buildings. The firm's fleet of vessels includes Iris Glory, Venus Glory, Promise, Mistral (scrubber), Monsoon, Breeze, Passat, Sirocco, Levant, Chinook and Pampero.
Avance Gas Holding Ltd. engages in the operation and transportation of liquefied petroleum gas. The firm is an owner and operator of very large gas carriers (VLGCs). Avance Gas provides LPG transportation services to destinations in Europe, South America, India and Asia, mainly loading the Middle East Gulf and the United States Gulf/United States East Coast. The company provides customers with transportation services through a combination of contract and spot market voyages. The firm's fleet consists of approximately 13 VLGCs and four dual fuel new buildings. The firm's fleet of vessels includes Iris Glory, Venus Glory, Promise, Mistral (scrubber), Monsoon, Breeze, Passat, Sirocco, Levant, Chinook and Pampero.
Record Profit: Avance Gas posted a net profit of $210 million in Q4 and $443 million for the full year 2024, the best annual result in company history, driven by significant vessel sales.
Large Asset Sales: The company sold 16 ships during the year, including 12 VLGCs to BW in a $1 billion transaction, generating substantial gains and cash proceeds.
Major Shareholder Payouts: Avance Gas is distributing $5.25 per share for Q4, including $2 cash, $3.25 in BW shares, and an additional extraordinary dividend of $0.75 expected soon.
Company Wind-Down: The company is in the process of liquidating, with plans to distribute all remaining capital to shareholders and delist after final payments in April/May.
Market Outlook: Management remains constructive on VLGC market fundamentals for 2025–2026, citing U.S. export growth, capacity expansions, and an aging fleet as supportive factors.
