CoolCo takes two more LNG tankers from Golar

LNG carrier operator CoolCo, formed by Tor Olav Troim-led Golar LNG and Idan Ofer’s Eastern Pacific Shipping, bought two more LNG carriers from Golar.

CoolCo said in a statement on Monday that it had completed the purchase of the fifth and the sixth out of eight LNG carriers from Golar as part of the deal revealed in December last year.

The LNG carriers in question are the 2015-built, 160,000-cbm Golar Snow and the 2014-built, 162,000-cbm Golar Glacier.

According to CoolCo, the purchase price for both of the vessels was financed by a drawing under CoolCo’s senior secured bank facility and a cash payment to Golar.

The deals also include the subscription by Golar of 3.12 million new common shares of $1.00 par value in CoolCo at a subscription price of $10.00.

There are now 36,885,000 shares in issue in CoolCo, each of which represents one vote in the company.

CoolCo recently appointed Hoegh LNG’s Richard Tyrrell as its chief executive officer.

Besides Tyrrell, CoolCo also appointed Johannes (John) Boots as chief financial officer, and Sarah Choudhry as general counsel.

EPS is the largest shareholder of CoolCo with a 38 percent stake, Golar owns 31 percent in the new LNG shipping venture, while public investors hold the rest.

Most Popular

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.

Nigeria LNG seals long-term gas supply deals

LNG producer Nigeria LNG, a joint venture of NNPC, Shell, TotalEnergies, and Eni, has signed six long-term gas agreements to secure supplies for its Bonny Island plant, including the terminal's expansion.

Gastrade in talks to receive new LNG cargoes at Alexandroupolis FSRU

Greece's Gastrade is in talks with firms to receive the next spot LNG cargoes at the Alexandroupolis FSRU-based terminal since the shutdown in January this year.

More News Like This

Golar moving forward with new FLNG order

Floating LNG player Golar LNG is moving forward with its plans to order its fourth FLNG conversion. In order to secure "attractive" delivery, Golar plans to enter into slot reservations for long-lead equipment within the third quarter of this year.

Argentina’s Southern Energy takes FID on second FLNG

Argentina's Southern Energy takes FID on second FLNG

Golar LNG welcomes new board member

Floating LNG player Golar LNG said that Stephen Schaefer will join its board of directors effective August 1.

China’s Hengli wins orders for LNG-powered vessels

China’s Hengli Heavy Industry, a part of Hengli Group, has secured orders for LNG dual-fuel containerships and tankers.