Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has new leadership.

Kristian Sørensen has resigned as CEO to pursue opportunities outside of the company. The chairman of the board, Erik O. Jacobsen, has also stepped down.

The board has appointed Jens Martin Jensen as a director of the company and Øystein Kalleklev will take over as executive chairman of the board with immediate effect, the company said.

Mr Jensen joined Seatankers Management on March 1 and also serves as a director of Frontline Ltd and Golden Ocean Group Limited. Before that, he was the CEO of Athenian Holdings.

Mr Kalleklev said: “We would like to thank Kristian and Erik for their contribution to Avance Gas.

“During Kristian’s capable leadership, Avance Gas has shown a positive development and he leaves the company well positioned to reap the benefits of a growing LPG shipping market. We wish Kristian the best of luck in his future endeavours.”

Mr Sørensen added: “I would like to thank everyone in Avance Gas for an exciting journey and I wish the company and its employees the very best for the future.”

Avance Gas operates a fleet of 14 ships and four dual fuel LPG newbuildings due for delivery in Q4 2022 and Q1-Q4 2023.