Awilco LNG bags new charter deal

Norway-based shipping firm Awilco LNG, the owner of two TFDE 156,000-cbm carriers, has revealed another charter contract on Friday.

Awilco said it has chartered the 2013-built WilPride for a period of 10 months but it did not disclose the name of the charterer.

The contract would start at the end of June, in direct continuation from the present charter party, the firm said.

Awilco has earlier this year signed a charter contract for WilPride with an unidentified charterer. The company said then it had chartered the vessel for 2-3 months with expected gross revenues of between $10.3 million and $14.3 million.

Moreover, Awilco also revealed in April a 12-month contract for its second vessel, WilForce. This contract would contribute to annualised earnings before interest, taxes, depreciation, and amortization (Ebitda) of about $18 million.

Awilco chief executive Jon Skule Storheill said in the statement on Friday the firm secured the new contract for WilPride at a “considerably higher rate” than the time charter contract announced for WilForce back in April, showing the “strength of the LNG market in 2021 and beyond.”

“As a result of comparatively strong earnings through the winter season these contracts enable the company to comply with original financial covenants under our financing facilities after June 30,” he said.

“In addition, they give visibility for earnings and cash generation over the next three quarters sufficient to strengthen our financial position significantly,” Storheill said.

- Advertisements -

Most Popular

Qatargas kicks off work on four giant LNG trains

LNG producer Qatargas, a unit of Qatar Energy, said it has started construction on four giant LNG trains in...

Denmark’s Celsius charters LNG carrier quartet to Gunvor’s unit

Denmark’s Celsius Tankers, a unit of Celsius Shipping, has signed charter deals for its four LNG newbuilds with Clearlake...

Greenpeace activists write a message on Croatian FSRU

Greenpeace activists wrote a message on Monday on the starboard side of the 140,000-cbm LNG Croatia FSRU located at...

More News Like This

Awilco LNG logs profit rise

Norway-based shipping firm Awilco LNG, the owner of two TFDE 156,000-cbm carriers, has reported a rise in both net...

Awilco LNG logs record average charter rate in Q1

Norway-based shipping firm Awilco LNG said it has achieved the highest quarterly average time charter equivalent rate in its...

Awilco LNG inks another charter deal

Norway-based shipping firm Awilco LNG will receive a boost in revenues from a new charter contract the firm revealed...

Awilco LNG appoints new finance chief

Norway-based shipping firm Awilco LNG has appointed Per Heiberg as its new chief financial officer. The move follows the resignation...