The chartering of the Ethylene fleet is managed by Evergas Solvang Ethylene (ESE), a 50 / 50 joint venture (JV) company based in Copenhagen. The chartering of the LGC / VLGC fleet is managed by International Gas Carriers (IGC) in Oslo; a 100% owned Daughter Company of Solvang ASA. In addition, the company has a crewing office in Manila, Philippines.
In 2012 the market improvement which began in 2010 continued. The imbalance between supply and demand in the last two years, due to a combination of over-contracting and low demand, was more balanced in 2012, but still very volatile for the largest ships and not fully satisfactory on average earnings.