Awilco LNG secures three-year charter deal

Norway-based shipping firm Awilco LNG, owner of two TFDE 156,000-cbm carriers, has won a charter deal with a firm duration of three years.

The charterer is a “leading European LNG importer” and has the option to extend the deal for a period of up to two years bringing the total period to five years, Awilco said on Friday.

Also, Awilco has the option to nominate either of its two vessels, namely WilForce and WilPride.

The LNG shipping firm expects the contract to start in December 2022, subject to customary inspection and vetting acceptance of the nominated vessel.

Awilco said the contract would contribute an annualized Ebtda of about $26 million during the charter period.

The company recently reported that its net profit reached $6 million in January-March, compared to $6.9 million in the same quarter last year. Net profit rose from $5.8 million in the October-December period.

TCE earnings for the first quarter of 2022 reached $78,300 per day compared to $78,600 per day in the fourth quarter.

Most Popular

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

Awilco LNG logs net loss due to weak market

Norway's Awilco LNG reported a net loss of $3.3 million in the first quarter, saying that its 2013-built LNG carrier, WilForce, traded in an "exceptionally weak" market.

Awilco seeks work for one LNG carrier

Norway's Awilco LNG is looking to secure employment for its 2013-built 156,000-cbm LNG carrier, WilForce. The carrier is currently available in a "very challenging" spot market with market rates below operating expenses, the firm says.

Awilco LNG reports net loss due to weak spot market

Awilco LNG owns two 156,000 cbm TFDE LNG vessels, WilForce and WilPride. Third-quarter net loss of $0.3 million compares to...

Awilco seeks new charter for one LNG carrier

In November 2022, Awilco LNG secured a charter deal with a firm duration of about 18 months for WilForce. This medium-term...