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Avance Gas enter into contracts for two dual fuel VLGC newbuildings with DSME Avance Gas Holding Ltd Oslo, NORWAY
Avance Gas Holding Ltd (OSE: AGAS , or the Company ) today announces that it has entered into shipbuilding contracts for two 91,000 CBM, LPG Dual-Fuel VLGCs with Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea, for delivery Q4 2022 and Q1 2023.
The investment enhances the green profile of the Avance Gas fleet, allowing the company to take another important step towards de-carbonisation while contributing to a greener shipping industry and achieving the targeted 40% reduction in emissions by 2030. The new vessels are capable of burning LPG, have larger intake and lower daily consumption. They will also be fitted with shaft generator further enhancing emissions reduction for an even greater greener profile.
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Avance Gas Holding Ltd (OSE: AGAS , or the Company ) today announces that it has entered into shipbuilding contracts for two 91,000 CBM, LPG Dual-Fuel VLGCs with Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea, for delivery Q4 2022 and Q1 2023.
The investment enhances the green profile of the Avance Gas fleet, allowing the company to take another important step towards de-carbonisation while contributing to a greener shipping industry and achieving the targeted 40% reduction in emissions by 2030. The new vessels are capable of burning LPG, have larger intake and lower daily consumption. They will also be fitted with shaft generator further enhancing emissions reduction for an even greater greener profile.
Avance Gas Holding Ltd: Avance Gas: Changes to the Board composition
Avance Gas Holding Ltd ( Avance Gas or the Company ) announces that James O Shaughnessy has in a board meeting today been elected as a new board member in the Company to fill vacancies on the Board.
James O Shaughnessy has been an Executive Vice President, Chief Accounting Officer and Corporate Controller of Axis Capital Holdings Limited since March 26, 2012. Prior to that Mr. O Shaughnessy has amongst other served as Chief Financial Officer in the Bermuda operations of Flagstone Reinsurance Holdings SA and as Chief Accounting Officer and Senior Vice President of Scottish Re Group Ltd., and Chief Financial Officer of XL Re Ltd. at XL Group plc. Mr. O Shaughnessy received a Bachelor of Commerce degree from University College, Cork, Ireland in the year 1981 to 1985 and is both a Fellow of the Institute of Chartered Accountants of Ireland and an Associate Member of the Chartered Insurance Institute of the UK. Mr.