In the Oslo-quoted operator’s fourth-quarter earnings report it argued that 2014 will “go down in history as the strongest VLGC market ever”.
Solvang noted that the recent completion of two 84,000-cbm newbuildings was well timed as these allowed the company cash in on the rally in freight rates.
This helped the operator rake in a full-year pre-tax profit of NOK 108.4m ($14.2m), versus a gain of NOK 63.8m in the 12 months to 31 December 2013.
While freight rates hit record highs in 2014, Solvang acknowledged that the VLGC segment will see a number of new additions this year and next.
You can read Solvang's latest earnings report in full by clicking on the link located under the Related Media section to the right of this article
