Cubic meter. The most common capacity nomination for gas vessels
Contract of Affrightment. A CoA is an agreement between ship owner and customer for the transportation of a min-max volume of cargo at a given rate per ton, normally for one or several years.
Normally related to a vessels periodic maintenance according to class requirements. The intervals are normally 5 years for newer vessels
Evergas Solvang Ethylene. 50/50 joint venture between Solvang and Evergas for marketing of ethylene ships.
Fully Fledge Joint Venture.
The rate paid by customer to owners for the transportation service provided. Calculated either per ton basis or per days basis.
Health, safety, environment and quality
International Financial Reporting Standards. All Norwegian companies quoted at the Oslo Stock Exchange are required to follow this accounting standard.
International Gas Carriers AS. Marketing company for Solvang's LGC and VLGC vessels.
Key Performance Indicators.
Large Gas Carrier. LPG vessels between 50.000 cbm and 70.000 cbm. Normal size for newer vessels is 60.000 cbm.
London Interbank Offered Rate
Liquefied Petroleum Gas.
Lost Time Incident Ratio measuring the level of injuries in a company or an operation.
Very Large Gas Carrier with a beam of 32.2 meter enabling the vessels to trade through the Panama canal.
Gases used as input/feedstock in petrochemical industry.
A gas carrier capable of transporting cargoes both under high pressure and with full refrigeration.
The rate obtained when chartering out a vessel for a single voyage.
Time Charter. A contract between ship owner and customer for anything between 2 months and several years. All voyage cost such as bunkers, canal and harbour fees are payable by the customer. Operating Cost is for the owner’s account.
Very large Gas Carrier. LPG carriers with over 75,000 cbm load capacity. The normal size for modern vessels is 82,000 cbm. As opposed to Panamax VLGC, these vessels cannot sail through the Panama Canal.