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

Fluor, JGC score FEED job for LNG Canada expansion

A joint venture of US engineer Fluor and Japan's JGC has been awarded the contract to update the front-end engineering and design (FEED) for a proposed Phase 2 expansion of the Shell-led LNG Canada project.

Inpex launches Abadi LNG FEED work

Japan's Inpex has launched the front-end engineering design (FEED) work for the Abadi LNG project in Indonesia. The contractors include Technip Energies, JGC, Saipem, Tripatra, McDermott, and Worley.

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

More News Like This

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.

EPS welcomes new LNG-powered PCTC in its fleet

Singapore’s Eastern Pacific Shipping took delivery of another LNG-powered pure car and truck carrier in China.

Golar LNG wraps up $575 million senior notes offering

Last week, Golar revealed that it intends to offer, subject to market and other conditions, $500 million aggregate principal...