Höegh LNG secures charter for newbuild FSRU

Höegh LNG secures charter for newbuild FSRU

Höegh LNG has entered into a time charter agreement with an energy major for its newbuild FSRU Höegh Esperanza, the company revealed in its first quarter results.

The charter is for a period of three years with start-up shortly.

Höegh LNG took delivery of the Höegh Esperanza, the eighth FSRU its fleet, from Hyundai Heavy Industries in April. The FSRU was originally intended to serve the Penco-Lirquén LNG import terminal in Chile, however, the contract was terminated as the LNG import terminal project has been delayed due to issues with project’s environmental approval.

“This contract will ensure that the unit will be put to seasonal use as an FSRU with corresponding rates, with intervening periods of guaranteed LNGC utilisation. Following the commencement of this charter in the coming weeks, we anticipate our financial results to reflect a full quarterly contribution from Höegh Esperanza from the third quarter onwards. Meanwhile, we continue to compete for the most attractive FSRU projects for our two uncommitted newbuildings with the objective of having established long-term employment at the time of their delivery,” said Sveinung Støhle, president and CEO of Höegh LNG.

Höegh LNG reported a net profit of $13.2m for the first quarter of 2018, up from $11.4m in the same period last year.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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