Awilco LNG bags new charter deal

Norway-based shipping firm Awilco LNG, the owner of two TFDE 156,000-cbm carriers, has secured a new charter deal with a firm duration of about six months.

Under the deal, Awilco chartered the 2013-built WilForce to an “oil major” with delivery on Wednesday, according to a statement.

Awilco expects the contract to contribute with an Ebitda of about $17 million over the charter period.

In June, the firm revealed a charter deal with a “leading European LNG importer” for a firm period of three years.

The 2013-built WilPride, which is trading in the spot market, will start working under this contract in December this year.

Freeport LNG shutdown hit the spot market

The Freeport LNG terminal in the US suffered an explosion on June 8, 2022, which
caused a temporary closure of the terminal.

Freeport LNG recently said it had entered into a consent agreement with the Pipeline Hazardous Materials Safety Administration (PHMSA) to resume operations at its LNG export plant in Texas in early October.

“With 20 percent of US exports suddenly being closed the spot market for LNG carriers has been very challenging as activity and rates have come down,” Awilco said in the statement.

“With both vessels operating in the spot market during the summer these unforeseen events have led to unexpected idle periods for our vessels which will influence the company’s result in second and third quarter 2022,” the LNG shipping firm added.

- Advertisements -

Most Popular

TotalEnergies supplies LNG cargo to PetroVietnam Gas

PetroVietnam Gas, a unit of state-owned PetroVietnam, has received a liquefied natural gas cargo from a unit of France's...

Spot LNG shipping rates nearly flat, European prices drop

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet remained steady this week, while European prices...

US LNG exports climb to 28 shipments

US liquefied natural gas exports rose in the week ending May 15 compared to the week before, with the...

More News Like This

Awilco, CDB Leasing ink sale and leaseback deal for LNG carrier duo

Norway-based shipping firm Awilco LNG has signed a sale and leaseback deal with China Development Bank Financial Leasing (CDB...

Awilco LNG reports record net profit

Norway-based shipping firm Awilco LNG, the owner of two 156,000-cbm carriers, reported a record net income in the fourth...

Awilco to get $4.9 million in compensation over LNG carrier collision

Norway-based shipping firm Awilco LNG has agreed a final settlement over a collision of its LNG carrier WilForce with...

Awilco inks refinancing deal for LNG carrier duo

Norway-based shipping firm Awilco LNG has signed a term sheet with an Asian leasing firm to refinance the company's...