Avance Gas Holding Ltd - Enter into Time Charter Agreement for Avance Capella

Bermuda - 21 January 2022

Avance Gas Holding Ltd ("AGAS" or the "Company") announce that we have entered into a Time Charter Agreement for a period of 2 years for our second dual fuel VLGC, Avance Capella, to LPG & Ethylene Shipowner and LPG trader, Petredec.

The vessel will commence the time charter shortly after delivery ex-yard in South Korea end of February 2022 and the time charter hire has a mechanism which gives both parties exposure to the spot market rate.

This transaction is another step in executing on our strategy to increase our time charter portfolio while also maintaining access to the market upside.

About Avance Gas
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG).

The Company is one of the world's leading owners and operators of very large gas carrier (VLGC) and operates a fleet of thirteen ships and six Dual Fuel LPG newbuildings due for delivery in Q1 2022, Q4 2022 and Q1-Q4 2023.

For more information about Avance Gas, please visit www.avancegas.com.

Avance Gas, press release