LNG

Oslo-listed LNG shipowner Awilco launched a subsidiary ALNG Trading backed by a NOK 251.3 million ($26 million) private placement for shareholders and new investors, including a US partner.

Awilco LNG, the small Norwegian-based shipping provider with two 156,000 cubic metres capacity vessels, the “WilForce” and the “WilPride”, has finally received a full and final settlement for a collision involving the “Wilforce” and a bulk carrier off Singapore at the end of May 2019.

Nov 22 (LNGJ) - LNG cargoes are heading for Belgium and the Netherlands over the next week. The vessel “Maran Gas Troy” with 159,800 of capacity is scheduled to berth with a US cargo on November 23 at the Belgian import terminal at Zeebrugge. The shipment was lifted on November 10 from the Sabine Pass plant in Louisiana, according to shipping data. A Russian delivery is then scheduled at Zeebrugge on November 26 onboard the carrier “Boris Davydov” with 172,000 cubic metres capacity. The cargo was loaded on November 20 at the Sabetta terminal on the Yamal Peninsula of northern Siberia.

   A third cargo is then due at Zeebrugge on November 29 from Angola on the vessel “Sonangol Benguela” with 160,500 metres of capacity. The volumes were lifted on November 13 from the Soyo export plant in the southwest African nation. Two cargoes are heading for the Netherlands from Texas. The “Adamastos” with 174,100 cubic metres of capacity is scheduled to arrive at November 25 at the Eemshaven facility in Groningen with a cargo from the Corpus Christi plant in Texas lifted on November 10. The carrier “WilPride” with 156,000 cubic metres capacity will discharge a Texas cargo on November 29 at the Gate terminal in Rotterdam. The volumes were loaded at Corpus Christi on November 13.

Awilco LNG, the small Norwegian-based shipping provider with two vessels, managed to swing back to profit in the third quarter as the ships returned from dry dock and said that overall LNG shipping market rates were still at healthy levels though vessels may soon be used for storing LNG with land-based facilities full in the European Union.

June 22 (LNGJ) – Two LNG cargoes are heading for Germany in the next week. The “LNG Rosenrot” carrier with 180,000 cubic metres capacity is scheduled to discharge a US shipment on June 25 at the Brunsbüttel import facility on the Elbe River north of Hamburg, according to shipping data. The cargo was loaded on June 12 at the Freeport plant in Texas.

   The “Wilpride” vessel with 156,000 cubic metres capacity is due to unload a cargo at the North Sea port of Willemshaven on June 30 that was lifted on June 14 from the US Cameron plant in Louisiana.

October 10 (LNG) – Two LNG carriers are set to berth in Belgium and the Netherlands with shipments from Qatar and Equatorial Guinea, according to shipping data. The 142,800 cubic metres capacity carrier “Lusail” was berthing on October 10 at the Zeebrugge terminal in Belgium with a cargo lifted from Ras Laffan.

   A second LNG cargo onboard the 156,010 cubic metres capacity vessel “WilPride” was making its way along the English Channel to the Dutch port of Rotterdam with a shipment lifted at the end of September from the West African plant on Bioko Island.

Teekay LNG Partners, whose gas group units own, charter or have stakes in 77 vessels, including 47 liquefied natural gas carriers and 30 liquefied petroleum gas or multi-gas vessels, reported annual net income almost halved, though its long-term charters strategy partially protected the company from the worst of the challenges.

Teekay LNG Partners recorded strong earnings for the fourth quarter and the full year after successfully completing its newbuild programme and securing attractive time-charters during the year amid the start-up of the Bahrain import project in the Gulf.

Nov 15 (LNGJ) - Awilco LNG, the Norwegian shipping company with the smallest fleet in the business numbering two vessels, said the 156,000 cubic metres capacity carrier “WilForce” had completed repairs at a shipyard in Singapore after it was involved in a collision with another ship off the Asian city-state on May 30, 2019. “Loss-of-hire insurance of US$65,000 per day compensated for some of the lost time-charter hire in the period,” said Awilco.

   “Awilco LNG has a substantial claim towards the ship responsible for the collision. Settlement and collection of the claim is expected to take some time,” added the company. Awilco made its statement as it reported a narrowed loss of $1.1 million in the third quarter compared with $11.4M of losses in the same three months a year ago and a $8.6M loss in the second quarter of 2019. Awilco said its second carrier, the 156,000 cubic metres capacity “WilPride”, was chartered in July 2019 to an oil and gas major for eight months until March 2020.

Awilco LNG has agreed a term sheet for the refinancing of the two 2013-built 156,000 cu m TFDEs ‘WilForce’ and ‘WilPride’ 

It was signed with a major leasing company based in Asia.

The agreement is structured as a sale/leaseback similar to their current financing and enables a full take out of the sale/leaseback facilities maturing on 31^st December this year on favourable terms.

The facility is expected to close in 4Q19, subject to final credit approval, documentation and customary closing conditions.