LNG

Feb 13 (LNGJ) - Awilco LNG, the Norwegian operator of two modern carriers, the 156,000 cubic metres capacity “WilPride” and the “WilForce”, narrowed its fourth-quarter losses to $4.5 million, down from $6.8M in the previous three months. Awilco said freight income for the quarter was $9.6M, up from $5.7M in the third quarter “due to the improving market fundamentals” as both vessels operated in the spot market. Voyage related expenses amounted to $2.3M compared with $1.3M in the previous quarter. “After almost three years of depressed freight rates, the market finally returned to profitable territory in Q4 2017 on the back of increased production volumes, the open West-East arbitrage and low availability of vessels in the Atlantic,” Awilco noted.