Fleet - VLGC & MGC fleet sold

August 15, 2024, the Company announced the sale of its VLGC fleet, consisting of twelve VLGCs, to BW LPG with delivery window within December 31, 2024. The Company completed the transaction with BW LPG with the delivery of the final VLGC, Avance Avior, on December 31, 2024.

In November 2024, Avance Gas entered into a Heads of Agreement (HoA) with Exmar LPG BV to sell its remaining four Mid-Sized Gas Carriers (MGCs) newbuilding contract through a novation. The transaction is subject upon the issuance of new refund guarantees to Exmar, as well as the completion of the customary documentation and closing procedures. The transaction was closed in February 2025 with final settled expected to be received in April 2025.