Awilco LNG achieved a net result of $5.1 mill and earnings per share of $0.04 for third quarter of this year, up from $3.3 mill and $0.02 in 2Q21.
Third quarter net freight income was $14.3 mill, compared with $12.1 mill in the previous quarter. At $10.8 mill, EBITDA was up from $9 mill in 2Q21.
Average net TCE for both vessels in the quarter was $78,000 per day, while vessel utilisation was 99%, compared to 100% in second quarter 2021.
Both vessels are on fixed term contracts until the start of 2Q22 at rates that secure significant positive cash generation over the period, the company claimed.
CEO, Jon Skule Storheill, commented: “We are pleased to continue to deliver strong results on the back of our fixed rate contracts for both vessels, bringing the result for the first nine months of 2021 to $15.3 mill and an average net TCE for the same period to $78,000 per day.
“With both vessels chartered out until the start of second quarter 2022, earnings can be expected to remain at this level for the next quarters and we are focused on capitalising on the strong LNG freight market,” he said.
