Flex LNG CEO joins Avance Gas as executive chairman

Øystein Kalleklev, the chief executive of Flex LNG, has joined Norwegian LPG shipper Avance Gas as its new executive chairman.

Both Flex LNG and Avance Gas are controlled by billionaire John Fredriksen.

Besides Kalleklev, Avance Gas has also appointed Jens Martin Jensen as director of the company with immediate effect, according to a statement on Monday.

Jensen joined Fredriksen’s Seatankers Management on March 1, 2022, and currently also serves as a director of Frontline and Golden Ocean Group.

These new appointments follow the resignation of CEO Kristian Sørensen and the chairman of the board, Eric Jacobsen, Avance Gas said.

Avance Gas operates a fleet of fourteen very large gas carriers and has four dual-fuel LPG newbuildings due for delivery in 2022 and 2023.

“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,” Kalleklev said in the statement.

Kalleklev will now lead both Flex LNG and Avance Gas.

Flex LNG recently reported record revenues and net income for the fourth quarter of last year due to the strong spot market.

The company last year completed its newbuilding program by taking delivery of its thirteenth vessel in South Korea.

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