Stolt-Nielsen Gas

Avance Gas

Stolt-Nielsen Gas (SNG) was formed in 2007 to explore growth opportunities in the market for the transportation of liquefied petroleum gas (LPG). Our strategy is to build a substantial fleet of very large gas carriers – VLGCs – through acquisitions of second-hand tonnage, mergers and by purchasing newbuildings.

In late 2009 SNG established Avance Gas Ltd. as its investment vehicle and operating company, and shortly thereafter entered into a three-year time charter for the Yuhsho, a 1999-built VLGC with a capacity of 78,500 cbm. In January 2010, SNG acquired its first owned LPG carrier, the Stolt Avance, a 2003-built VLGC with a capacity of 82,500 cbm. The Navigator Taurus, a medium-sized gas carrier built in 2009 with a capacity of 22,600 cbm, was taken on time charter in October 2010 for the West African trade.

SNG merged its VLGC operations with those of Sungas Holdings Ltd. with both parties becoming equal owners of Avance Gas. Sungas added three VLGCs to the Avance Gas fleet: Iris Glory, Thetis Glory and Venus Glory, all built in 2008 with a cargo capacity of 83,700 cbm. Four of the six ships in the Avance Gas fleet trade in the spot market, primarily loading in the Middle East for destinations mainly in Asia.