Awilco sees cash windfall from new LNG carrier fixture

Norway’s Awilco LNG has sealed a new time charter contract for 2013-built 156,000 cbm LNG carrier WilPride.

The contract is for between two and three months, and will generate revenues of $10.3m to $14.3m. With an estimated breakeven of $58,000 per day, Awilco says the contract is estimated to generate liquidity of between $6.2m and $8.6m.

Commencement is scheduled for the first half of February.

“Gas prices and spot LNG shipping rates have recently increased dramatically for several reasons including cold weather, various production disruptions and fleet inefficiencies. Forward gas prices for the remainder of 2021 has recovered together with consensus shipping rates. The Company’s financial results in 2021 are expected to improve on 2020,” the company stated.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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