The shipowners prefer joint ventures with third parties. Aurora LPG and Wilhelmsen Ship Management join forces to take care of the former’s VLGC fleet.
The joint ventures company will be based in Hong Kong. The joint ventures is a further sign that Aurora is not for merger talk led by Avance Gas. Oslo-listed Avance Gas made a bid for Aurora LPG last month when its takeover of Dorian LPG failed last year.
Shipmanagers forming joint ventures with owners is becoming common within the industry. Earlier this year Wilhelmsen Ship Management formed a similar venture to its Aurora LPG one with Greece’s Diana Shipping.
Source: Wilhelmsen Group
