Skip to main content

Awilco LNG releases company activity update

Published by , Editor
LNG Industry,

Awilco LNG ASA has released a statement containing updates regarding its activities.

The company has agreed with the other ship owners involved to discontinue discussions, started in late 2018, regarding the establishment of a consolidated LNG shipping structure.

Contract update: Awilco LNG has contracted historically high earnings through the winter period. The WilForce is currently on an 80 – 100 day time charter contract until February 2020. The contract is estimated to contribute a monthly EBITDA of about US$3.4 million during the charter period. The company’s two ships are expected to report an average TCE of about US$84 000 per day per vessel in 4Q19. For 1Q20 about 50% of available days are booked at an expected TCE of about US$95 000 per day per vessel.

The committed 10-year refinancing is about to be completed, which will reduce daily interest cost by about US$10 000 per vessel at current forward interest rates. Reduced cost coupled with the expected strong market conditions over the next years following a wave of new LNG production heralds an exciting period for the company. With in-house technical management approved by oil and gas majors Awilco LNG remains open to grow the business, either on its own or as part of a consolidation with other owners.

Read the article online at:

You might also like

NNPC signs LNG agreements with Wison and SDP Services

In its efforts to further boost natural gas utilisation in the country and enhance Nigeria’s gas revenue, NNPC Ltd has signed two major agreements to deliver LNG to the domestic gas market and the international LNG market.


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

LNG carrier news