LNG

May 31 (LNGJ) - Hoegh LNG posted improved first-quarter earnings of $38.1 million compared with $36.7M in the same quarter of 2017, while net profits amounted to $13.2M versus $11.4M in the same three months of the last year. “We are pleased to deliver another quarter with strong operational results,” said President and Chief Executive Sveinung J. S. Stohle. “Our eighth FSRU, ‘Hoegh Esperanza’, was delivered in April and is now set to start a three-year time charter,” added the CEO. “Meanwhile, we continue to compete for the most attractive FSRU projects for our two uncommitted newbuildings,” said Stohle. The “Hoegh Esperanza” was vetted for LNG trading and entered a spot charter under which it loaded its maiden cargo on 21 May 2018 at the Queensland Curtis LNG plant in Australia. Hoegh said the charter for “Hoegh Esperanza” would ensure a minimum utilisation of the unit in FSRU mode and for the balance of the year it would be in conventional LNG carrier mode.