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ALNG - Q1 2021 Report
2021-05-20 07:30:00
The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today
reports unaudited results for the three months ended 31 March 2021.

HIGHLIGHTS
o Awilco LNG achieved net freight income of USD 16.2 million in Q1 2021, up from
USD 11.2 million in Q4 2020.
o EBITDA for the quarter ended at USD 12.7 million, compared with USD 7.3
million in Q4 2020.
o Net result for the period was USD 6.9 million, equivalent to an earnings per
share of USD 0.05
o Vessel utilisation in Q1 2021 of 100%, same as in Q4 2020.
o In April WilForce was fixed on a 12 months charter party with an estimated
EBITDA contribution of USD 18 million over the period
o Covid-19 still entails that crew changes are more challenging and costly than
normal. Outside cost the pandemic has however not negatively impacted the
operational performance of the vessels.

Jon Skule Storheill, Chief Executive Officer, commented:
"I am pleased to report that the Company managed to take advantage of the strong
winter market and deliver a TCE of USD 90k per day in Q1, the highest quarterly
average TCE in the history of the Company. Further we have entered a 12 months'
Time Charter Contract on our vessel WilForce which secure positive cash flow and
strengthening of the Company's financial position over the period. Demand for
LNG is rising as consumers are becoming more aware of its environmental benefits
vs primarily coal as well as an expected rebound in freight demand as the
pandemic softens its grip on the global economy, which provides further
potential upside for the Company."

Se også: https://finansavisen.no/nyheter/shipping/2021/05/20/7676287/rekordinntjening-for-awilco-lng?internal_source=sistenytt
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