Sungas Holdings

Rally round the flag

FLEETS While not quite qualifying for saviour status, LPG is nevertheless becoming something of a beacon to the beleaguered shipping industry as executives and investors pile in to the sector. Certainly, the number of shipping companies eyeing expansion – either through beefing up existing fleets or diving into the sector anew - is on the up

LPG tanker at sea

Third partner for Avance

Transpetrol Holding is to become the third equal partner in Avance Gas, the Stolt-Nielsen/Sungas LPG tanker operation.

In transit

FLEET There is a cautious optimism in the air as the LPG sector, which has remained deadly quiet through the economic downturn, starts to move into a period of activity and recovery with potential growth in the near future

Stolt Tankers' sticky start

Stolt-Nielsen Ltd (SNL) has recorded an operating profit of $32.8m for the first quarter of its 2011 financial year, down 28 per cent on the prior quarter but up slightly on the $32.1m posted for the corresponding period in 2010.

Stolt trims fleets

Stolt-Nielsen Ltd, through its subsidiary Stolt Nielsen Gas Ltd, has agreed to merge its LPG tanker operations with those of Sungas Holdings, a privately owned Saudi company.

Syndicate content