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Avance Gas Holding Ltd Reports Unaudited Results for the First Quarter of 2021


Avance Gas Holding Ltd Reports Unaudited Results for the First Quarter of 2021
HIGHLIGHTS
The average time charter equivalent (TCE) rate was $42,552/day on a load-to-discharge (IFRS 15 accounting principles) and $36,754 on a discharge-to-discharge basis and, compared to $36,130/day and $40,759/day in Q4 2020 respectively.
Daily operating expenses (OPEX) were $9,440/day, compared to $9,419/day in Q4 2020. OPEX was impacted by Covid-19 crew and freight cost of $800/day, seasonal up storing of spares and maintenance totaling approx. $800/day. A&G expenses were $1,191/day, up from $701/day in Q4 2020.
In April 2021, the Company increased its dual fuel VLGC newbuilding program from four to six 91,000 CBM vessels highlighting the company s commitments towards de-carbonisation of the LPG industries. ....

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