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The net loss compares to a net profit of $1.5 million in the fourth quarter of 2024 and a net loss of $0.3 million in the prior quarter.
Awilco LNG said the result for the year 2025 ended at a loss of $11.2 million and a loss of $0.08 per share, compared to a profit of $17.1 million in 2024.
The company reported net freight income of $6.9 million in fourth quarter and $33.6 million in 2025, while Ebitda ended at $2.3 million and full-yer Ebitda reached $16.5 million.
According to Awilco LNG, vessel utilization was 100 percent for fourth quarter and 83 percent for 2025.
Following redelivery of WilPride from her fixed-rate time charter in November, both vessels have traded in the spot market, the company said
The company managed to keep both vessels fully utilized during the quarter with a combined TCE of $37,600 per day on average, down from $57,800 in the previous quarter.
For the full year 2025, net TCE ended at $46,000 per day,
As of December 31, 2025, total book value of WilForce and WilPride was $286.7 million following depreciation of $3.8 million and zero capitalization of any investments in the vessels during the quarter, the company said.
Awilco LNG said the “volatility the last months is encouraging given the current oversupply of vessels.”
The oversupply of vessels is expected to “persist in 2026 and into 2027 until sufficient new LNG supply come on stream leading to an improved market balance, with increased rates and more opportunities in the term market.”
Idle periods and lower earnings
Awilco LNG’s CEO Jon Skule Storheill said the LNG shipping market “experienced a seasonal, but for most industry players an unexpected strength during the fourth quarter.”
“With both vessels trading in the spot market, the company managed to catch some of the strength that will also impact the first quarter 2026 earnings,” he said.
He said the “strong market in fourth quarter 2025 was unfortunately short-lived as modern 2-stroke relets competed hard to stay cold and avoid idle time.”
“Weather delays are currently pushing rates up again in a volatile market. With both vessels trading in the spot market idle periods and lower earnings should be expected until activity picks up following the start-up of new LNG production and/or ton-miles increase,” Storheill said.
