31-08-2013

TP reacquires full control of its two VLGCs

Following a one-year period of evaluation, it was decided to undo the arrangement which was entered into in July 2012 with Avance Gas Holding Ltd (AGHL). Subsequently, on 19 August 2013 Transpetrol, on predefined terms and conditions, repurchased two very large gas carrier class ships (VLGCs), MV PROGRESS and MV PROSPECT, and simultaneously sold all its shares in AGHL back to the remaining shareholders.

The manning and technical management of the two ships remains unchanged and will stay with Transpetrol TM AS, which is a wholly owned subsidiary of the company.

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“Committed to perform”
Transpetrol is an independent, fully integrated, ship-owning company with a history stretching back over 30 years. We have a truly international workforce of about 30 employees on shore in four different countries and about 500 seafarers and customarily 15 vessels serving clients around the globe.
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