Contracts and TendersEurope

CoolCo takes two more LNG tankers from Golar

By LNG Prime Staff
CoolCo takes two more LNG tankers from Golar
For illustration only (Image: CoolCo)

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

Corporate

Daniel Kalms leaves Woodside

Woodside's executive vice president and chief operating officer international, Daniel Kalms, is leaving the Australian LNG player.
Vessels

Hanwha Ocean launches Singapore’s first FSRU

South Korean shipbuilder Hanwha Ocean has launched MOL’s floating storage and regasification unit (FSRU), which will serve Singapore’s second LNG import terminal.
Contracts and Tenders

Lithuania’s Ignitis to sign long-term LNG supply deal with EQT

Lithuanian state-controlled energy company Ignitis will sign a long-term LNG supply and purchase agreement with a unit of US natural gas producer EQT following the completion of a tender.

More News Like This

LNG as Fuel

EPS wraps up 700th STS LNG bunkering op

Singapore’s Eastern Pacific Shipping has completed its 700th ship-to-ship LNG bunkering operation as the company’s fleet of LNG-fueled vessels continues to expand.
LNG Terminals

Golar eyes fleet of more than seven FLNGs

Floating LNG player Golar LNG has made a pathway to increase its FLNG fleet to over seven units after ordering its fourth unit and securing two more shipyard slots, according to CEO Karl Fredrik Staubo.
Contracts and Tenders

Golar inks LoI with Seatrium for new FLNG conversion

Floating LNG player Golar has entered into a letter of intent with Singapore's Seatrium to secure incremental FLNG yard capacity for another FLNG conversion.
LNG Terminals

Golar orders fourth FLNG in China

Floating LNG player Golar LNG said that it had executed an engineering, procurement, and construction (EPC) agreement with China's Yantai CIMC Raffles Offshore for its fourth FLNG and second MKII FLNG with an annual liquefaction capacity of 3.5 mtpa.