LNG

Sept 11 (LNGJ) - Exmar, the Belgian shipping company and project developer whose fleet includes 16 LNG vessels, posted a first-half loss of $20.4 million for its LNG division compared with positive earnings of $24.7M in the same six months of 2016. “The operating result has been negatively impacted by a non-cash impairment of $22.5 million on the ‘Excel’ as well as costs related to the late delivery of the ‘Caribbean FLNG’ hull,” said the company whose Chief Executive is Nicolas Saverys. Exmar said the “Caribbean FLNG” hull was delivered on 27 July 2017 and was currently in lay-up at the Wison shipyard in Nantong, China, where it was built. “Exmar is still in dialogue with multiple entities for the commercial engagement of CFLNG but no revenues are expected for the unit before the second half of 2018,” the company stated.