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.

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