Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has sold the very large gas carrier newbuilding hull 2368 in connection with the delivery of her from Hanwha Ocean yard in South Korea.

The company said the VLGC with the intended name Avance Pollux was sold for an agreed price of $120 million, less broker commission.

Avance expects to record a book gain and cash release of $36 million and $62 million, respectively, from the sale, which will be recorded in its second-quarter results.

Øystein Kalleklev, CEO, said: “During approximately the last three years, we have sold all our five 2008 and 2009-built VLGCs as well as our two dual-fuel VLGCs for delivery this year.

“All in all, we have received gross proceeds from these vessel sales of $509 million with associated book gains of $139 million and cash release of $257 million, respectively.

“Following these transactions, Avance Gas today has a uniform fleet consisting of eight 2015 eco VLGCs and four modern dual-fuel VLGCs. Additionally, we have four dual-fuel medium-sized gas carrier newbuilds equipped to carry both LPG and full ammonia cargo set for delivery in 2025 and 2026.”

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Avance Gas has announced the re-election of five directors at the company’s annual meeting.

Mr Kalleklev, Kathrine Fredriksen, François Sunier, James O’Shaughnessy and Will Homan-Russell have been returned as directors of the company.

It was resolved at the AGM to approve the remuneration of the company’s board of directors of a total amount of fees not to exceed $500,000 for 2024.

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Four directors have been reappointed to the board of Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, at its annual meeting.

Returning to the board are Ola Lorentzon, Nikolai Grigoriev and Steen Jakobsen.

At the AGM, it was resolved to approve remuneration of the company's board of directors of a total amount of fees not to exceed $500,000 for 2024.

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Golden Ocean Group Ltd, the world's largest listed owner of large size dry-bulk vessels, has announced the re-election of five directors at the company’s annual meeting.

Re-elected were Ola Lorentzon, John Fredriksen, James O’Shaughnessy, Ben Mills and Cato Stonex.

It was resolved at the AGM to approve remuneration of the company’s board of directors of a total amount of fees not to exceed $600,000 for 2024.

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Six directors have been re-elected to the board of Bermudian-based SFL Corporation Ltd, one of the world's largest ship-owning companies, at its annual meeting.

Staying on the board are Kathrine Fredriksen, Gary Vogel, Keesjan Cordia, James O’Shaughnessy, Ole Hjertaker and Will Homan-Russell.

It was resolved at the AGM to approve the remuneration of the company’s board of directors of a total amount of fees not to exceed $800,000 for 2024.