Awilco LNG of Norway reported freight income of USD 17.7 million in the first quarter of 2012 (USD 16.8 million in Q4 2011) and an EBITDA of USD 11.8 million (USD 10.9 million in Q4 2011).
In this quarter the charterers of the WilEnergy LNG tanker declared the option to extend the contract period to 365 days, and the vessel is thus on contract until February 2013.
WilEnergy also completed dry dock on 16th February on time and within budget, the company said in a statement.
Third and final pre-delivery installment on newbuilding no. 1 was paid in February. Vessel utilization of 88 % was at the same level as previous quarter, the company added.
Awilco LNG owns three 125,000 cbm LNG vessels: WilGas, WilPower and WilEnergy. In addition, the company has entered into a newbuilding contract with Daewoo Shipbuilding & Marine Engineering in Korea for two 155,900 cbm LNG vessels to be delivered during the 3rd and 4th quarter of 2013.
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LNG World News Staff, May 23, 2012; Image: Awilco LNG