Q2 2020 Avance Gas Holding Ltd Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to Avance Gas Holding Ltd Second Quarter 2020 Earnings Conference Call. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Peder Simonsen. Please go ahead, sir.
Thank you. Thank you for dialing in to this presentation of the second quarter results for Avance Gas. I will start to talk a little bit about the key financial highlights, which will follow by a market and company update.
So if we start by moving to Slide 3. We recorded a time charter equivalent rate of just below $29,000 and 94% commercial utilization for the quarter compared to $45,000 per day and 97% utilization previous quarter. We have 5 ships completed special survey by the second quarter and 4 scrubbers have been installed, so we recorded a total of 89 off-hire days for this quarter related to these installments. We have a time charter coverage rate of 21% for the second half of this year at an average rate of just below
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