Awilco LNG posted EBITDA of US$ 10.7 million compared to US$ 8 million in the previous quarter. Operating costs slightly increased due to the operation throughout the quarter of the WilPride, although administration costs were considerably lower.
Freight income was US$ 20.2 million compared to US$ 21.3 in the previous quarter, with a significant decrease in voyage related expenses due to positioning costs incurred in Q4 2013.
A statement from the company said: “The lack of available cargo and fewer reloads from Europe continued to impact the spot market in Q1, which together with four newbuildings delivered in the quarter resulted in increased available tonnage, low activity and sofetening rates”.
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Adapted from press release by Ted Monroe
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